Affirm (NASDAQ:AFRM) Shares Gap Down to $31.41

Affirm Holdings, Inc. (NASDAQ:AFRM) gapped down prior to trading on Thursday . The stock had previously closed at $31.41, but opened at $30.75. Affirm shares last traded at $30.99, with a volume of 583,847 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on AFRM shares. Barclays lowered their price objective on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. BMO Capital Markets lowered their price objective on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $43.00 in a report on Thursday, May 9th. Finally, BTIG Research initiated coverage on Affirm in a report on Friday, June 7th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.66.

Affirm Trading Down 1.4 %

The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94. The company has a 50-day moving average of $31.81 and a 200-day moving average of $37.21.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The firm had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. During the same period last year, the business posted ($0.69) earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts expect that Affirm Holdings, Inc. will post -1.98 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the transaction, the director now directly owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several hedge funds have recently bought and sold shares of AFRM. Teachers Retirement System of The State of Kentucky grew its stake in Affirm by 19.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 185,058 shares of the company’s stock worth $6,895,000 after purchasing an additional 30,500 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Affirm by 38.4% in the first quarter. Cetera Advisors LLC now owns 7,231 shares of the company’s stock valued at $269,000 after buying an additional 2,005 shares in the last quarter. Plato Investment Management Ltd grew its position in Affirm by 255.1% during the 1st quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after purchasing an additional 954 shares in the last quarter. Comerica Bank boosted its holdings in Affirm by 16.2% in the first quarter. Comerica Bank now owns 6,109 shares of the company’s stock worth $228,000 after purchasing an additional 850 shares in the last quarter. Finally, Interval Partners LP acquired a new position in Affirm during the 1st quarter worth $745,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.