Affirm (NASDAQ:AFRM) Releases Earnings Results, Beats Expectations By $0.35 EPS

Affirm (NASDAQ:AFRM – Get Rating) issued its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.35, MarketWatch Earnings reports. Affirm had a negative net margin of 74.96% and a negative return on equity of 22.95%. The firm had revenue of $354.80 million during the quarter, compared to analysts’ expectations of $344.01 million. During the same quarter in the previous year, the company earned ($0.72) earnings per share. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. Affirm updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.

AFRM opened at $23.71 on Friday. The business’s fifty day moving average is $34.94 and its 200-day moving average is $73.18. Affirm has a 52-week low of $13.64 and a 52-week high of $176.65. The company has a debt-to-equity ratio of 1.62, a current ratio of 7.12 and a quick ratio of 7.12.

AFRM has been the topic of several research reports. Mizuho boosted their price objective on shares of Affirm from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, March 15th. Deutsche Bank Aktiengesellschaft dropped their target price on Affirm from $70.00 to $35.00 in a report on Wednesday, May 4th. Loop Capital assumed coverage on Affirm in a research report on Wednesday, January 19th. They set a “hold” rating and a $72.00 price target on the stock. Royal Bank of Canada dropped their price objective on Affirm from $58.00 to $48.00 in a research note on Friday. Finally, Credit Suisse Group decreased their target price on shares of Affirm from $105.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, February 11th. 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 MarketBeat, Affirm has a consensus rating of “Hold” and a consensus target price of $71.53.

In other news, major shareholder Private Ltd Gic purchased 134,197 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was bought at an average price of $34.98 per share, with a total value of $4,694,211.06. Following the acquisition, the insider now owns 812,086 shares in the company, valued at approximately $28,406,768.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders acquired 2,107,799 shares of company stock worth $68,998,013. Insiders own 16.48% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AFRM. Covestor Ltd acquired a new position in Affirm during the first quarter worth about $30,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Affirm in the fourth quarter valued at approximately $93,000. Loomis Sayles & Co. L P acquired a new position in shares of Affirm during the first quarter worth $178,000. NewEdge Advisors LLC bought a new stake in Affirm during the 4th quarter worth $235,000. Finally, Toroso Investments LLC increased its holdings in Affirm by 18.0% in the 4th quarter. Toroso Investments LLC now owns 2,560 shares of the company’s stock worth $257,000 after purchasing an additional 390 shares in the last quarter. 58.34% of the stock is currently owned by institutional investors and hedge funds.

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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