Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Affirm (NASDAQ:AFRM) had its target price boosted by equities research analysts at Royal Bank of Canada from $67.00 to $81.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 9.46% from the stock’s previous close.

Several other brokerages have also issued reports on AFRM. JMP Securities upped their target price on Affirm from $78.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday. UBS Group boosted their target price on shares of Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday. Susquehanna downgraded Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Tuesday, January 21st. Mizuho raised their price target on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley upped their price target on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Affirm Stock Up 19.8 %

Shares of NASDAQ AFRM traded up $12.25 during midday trading on Friday, reaching $74.00. 24,796,888 shares of the company’s stock traded hands, compared to its average volume of 6,273,317. The company has a market cap of $23.24 billion, a price-to-earnings ratio of -52.09 and a beta of 3.66. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a one year low of $22.25 and a one year high of $76.88. The stock’s 50 day simple moving average is $62.98 and its 200-day simple moving average is $48.86.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. On average, analysts predict that Affirm will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $60.12, for a total transaction of $967,090.32. Following the transaction, the director now directly owns 77,608 shares in the company, valued at $4,665,792.96. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold 1,339,564 shares of company stock worth $87,252,461 over the last 90 days. 12.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Affirm

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Affirm by 2.5% during the 2nd quarter. AQR Capital Management LLC now owns 29,135 shares of the company’s stock valued at $880,000 after acquiring an additional 722 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Affirm by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock valued at $1,558,000 after buying an additional 3,105 shares in the last quarter. LifePro Asset Management acquired a new stake in Affirm during the 3rd quarter valued at $2,078,000. ORG Wealth Partners LLC acquired a new position in shares of Affirm in the third quarter worth $29,000. Finally, Kathleen S. Wright Associates Inc. increased its position in Affirm by 27.6% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 5,210 shares of the company’s stock worth $213,000 after purchasing an additional 1,128 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.