Affirm (NASDAQ:AFRM – Get Rating) posted its earnings results on Thursday. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.35, MarketWatch Earnings reports. The firm had revenue of $354.80 million for the quarter, compared to the consensus estimate of $344.01 million. Affirm had a negative net margin of 74.96% and a negative return on equity of 22.95%. The business’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.72) earnings per share. Affirm updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.
NASDAQ AFRM opened at $23.71 on Friday. The company has a current ratio of 7.12, a quick ratio of 7.12 and a debt-to-equity ratio of 1.62. The firm has a 50-day simple moving average of $34.94 and a 200 day simple moving average of $73.18. Affirm has a twelve month low of $13.64 and a twelve month high of $176.65.
In other Affirm news, major shareholder Private Ltd Gic purchased 181,864 shares of the business’s stock in a transaction on Wednesday, April 27th. The stock was purchased at an average price of $29.60 per share, for a total transaction of $5,383,174.40. Following the completion of the purchase, the insider now directly owns 4,467,578 shares in the company, valued at $132,240,308.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 2,107,799 shares of company stock valued at $68,998,013. 16.48% of the stock is owned by corporate insiders.
Several equities analysts have commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Affirm in a research report on Wednesday. They set a “neutral” rating and a $30.00 target price on the stock. Jefferies Financial Group downgraded shares of Affirm from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $55.00 to $45.00 in a research report on Friday, February 11th. Stephens downgraded shares of Affirm from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $51.00 to $17.00 in a research report on Tuesday. Mizuho increased their target price on shares of Affirm from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, March 15th. Finally, Zacks Investment Research raised shares of Affirm from a “sell” rating to a “hold” rating in a research report on Wednesday, April 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.53.
Affirm Company Profile (Get Rating)
Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.
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