Affirm (NASDAQ:AFRM) Given New $46.00 Price Target at Royal Bank of Canada

Affirm (NASDAQ:AFRM) had its price target increased by Royal Bank of Canada from $43.00 to $46.00 in a research report report published on Thursday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Mizuho reiterated an outperform rating and issued a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. Needham & Company LLC reiterated a hold rating on shares of Affirm in a report on Thursday. JMP Securities began coverage on shares of Affirm in a research report on Friday, June 28th. They set a market perform rating for the company. BTIG Research assumed coverage on Affirm in a research report on Friday, June 7th. They set a neutral rating on the stock. Finally, BMO Capital Markets lowered their price target on Affirm from $48.00 to $46.00 and set a market perform rating for the company in a research report on Friday, May 10th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Affirm currently has an average rating of Hold and a consensus target price of $34.32.

Affirm Stock Up 5.6 %

AFRM stock opened at $44.01 on Thursday. The stock’s 50 day simple moving average is $29.43 and its 200 day simple moving average is $32.27. The company has a market cap of $13.60 billion, a P/E ratio of -19.74 and a beta of 3.45. The company has a debt-to-equity ratio of 2.41, a quick ratio of 12.94 and a current ratio of 13.07. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48.

Insider Activity

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $29.89, for a total transaction of $277,259.64. Following the transaction, the director now owns 73,623 shares of the company’s stock, valued at approximately $2,200,591.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of Affirm during the fourth quarter worth $1,698,000. Charles Schwab Investment Management Inc. boosted its position in shares of Affirm by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock valued at $67,347,000 after acquiring an additional 72,178 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in Affirm in the first quarter valued at approximately $258,000. Principal Financial Group Inc. lifted its position in Affirm by 34.3% during the first quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock valued at $710,000 after purchasing an additional 4,868 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

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.