Royal Bank of Canada Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price objective boosted by Royal Bank of Canada from $67.00 to $81.00 in a research note published on Friday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Several other equities analysts have also weighed in on the company. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Mizuho increased their price target on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. JMP Securities lifted their price objective on Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday. Bank of America upped their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Affirm Trading Up 21.8 %

Shares of Affirm stock opened at $75.22 on Friday. The stock has a fifty day moving average price of $63.09 and a 200-day moving average price of $49.18. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The firm has a market cap of $23.62 billion, a PE ratio of -52.97 and a beta of 3.66. Affirm has a 1 year low of $22.25 and a 1 year high of $76.88.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. Equities research analysts anticipate that Affirm will post -0.62 EPS for the current year.

Insider Buying and Selling

In other news, President Libor Michalek sold 6,629 shares of Affirm stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $72.08, for a total transaction of $477,818.32. Following the completion of the sale, the president now owns 160,601 shares in the company, valued at approximately $11,576,120.08. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction dated 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 a total of 1,339,564 shares of company stock worth $87,252,461 over the last ninety days. 12.41% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

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