Royal Bank of Canada Trims Affirm (NASDAQ:AFRM) Target Price to $43.00

Affirm (NASDAQ:AFRM) had its price objective cut by Royal Bank of Canada from $50.00 to $43.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 28.40% from the stock’s current price.

AFRM has been the topic of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Thursday. BMO Capital Markets upped their price target on shares of Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. The Goldman Sachs Group boosted their price target on Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Barclays decreased their target price on Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Affirm currently has a consensus rating of “Hold” and an average target price of $27.58.

Affirm Trading Up 6.0 %

NASDAQ:AFRM traded up $1.91 during midday trading on Thursday, hitting $33.49. 6,741,737 shares of the company traded hands, compared to its average volume of 9,149,640. The firm has a market capitalization of $10.28 billion, a P/E ratio of -13.40 and a beta of 3.56. The firm’s fifty day moving average is $34.60 and its 200-day moving average is $35.93. Affirm has a 12-month low of $11.57 and a 12-month high of $52.48. The company has a current ratio of 11.49, a quick ratio of 11.49 and a debt-to-equity ratio of 2.35.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.27. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.69) earnings per share. On average, sell-side analysts predict that Affirm will post -2.45 EPS for the current year.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the transaction, the director now directly owns 60,000 shares in the company, valued at approximately $1,927,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 13.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several large investors have recently added to or reduced their stakes in AFRM. Planned Solutions Inc. acquired a new stake in shares of Affirm during the fourth quarter worth about $25,000. Creative Financial Designs Inc. ADV lifted its position in Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Affirm during the 4th quarter worth about $33,000. Global Wealth Strategies & Associates raised its stake in shares of Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Affirm in the 4th quarter valued at about $49,000. 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.