Affirm (NASDAQ:AFRM) Trading Down 6.8%

Affirm Holdings, Inc. (NASDAQ:AFRMGet Rating)’s stock price fell 6.8% during mid-day trading on Tuesday . The stock traded as low as $24.06 and last traded at $24.96. 86,701 shares were traded during mid-day trading, a decline of 99% from the average session volume of 12,306,731 shares. The stock had previously closed at $26.79.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AFRM. Mizuho dropped their price objective on Affirm from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, September 7th. Truist Financial dropped their target price on Affirm from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 26th. Barclays dropped their target price on Affirm from $35.00 to $29.00 and set an “overweight” rating on the stock in a research report on Friday, August 26th. Piper Sandler dropped their target price on Affirm from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 29th. Finally, Morgan Stanley dropped their target price on Affirm from $80.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.83.

Affirm Price Performance

The company has a market cap of $7.03 billion, a PE ratio of -9.58 and a beta of 3.58. The company has a debt-to-equity ratio of 1.56, a quick ratio of 11.87 and a current ratio of 11.87. The stock has a 50 day moving average of $27.81 and a 200-day moving average of $29.27.

Affirm (NASDAQ:AFRMGet Rating) last issued its earnings results on Thursday, August 25th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.20). The firm had revenue of $364.10 million during the quarter, compared to analysts’ expectations of $354.86 million. Affirm had a negative return on equity of 20.25% and a negative net margin of 52.43%. The business’s revenue was up 39.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.48) EPS. Equities analysts predict that Affirm Holdings, Inc. will post -2.8 earnings per share for the current year.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in shares of Affirm during the 1st quarter valued at about $429,000. Ensign Peak Advisors Inc purchased a new position in shares of Affirm during the 4th quarter valued at about $10,435,000. Impax Asset Management Group plc purchased a new position in shares of Affirm during the 4th quarter valued at about $202,000. ACT Capital Management LLC purchased a new position in shares of Affirm during the 1st quarter valued at about $324,000. Finally, JustInvest LLC raised its stake in shares of Affirm by 377.7% during the 4th quarter. JustInvest LLC now owns 9,940 shares of the company’s stock valued at $1,000,000 after buying an additional 7,859 shares during the last quarter. Hedge funds and other institutional investors own 72.76% of the company’s stock.

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.

Further Reading

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