Affirm (NASDAQ:AFRM) Stock Price Down 8.5%

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) were down 8.5% during mid-day trading on Wednesday . The company traded as low as $26.80 and last traded at $26.86. Approximately 3,679,957 shares were traded during trading, a decline of 56% from the average daily volume of 8,322,559 shares. The stock had previously closed at $29.34.

Analyst Ratings Changes

A number of brokerages have commented on AFRM. Mizuho reissued a “buy” rating and set a $65.00 price objective on shares of Affirm in a report on Thursday, June 20th. Barclays lowered their price target on Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 16th. Royal Bank of Canada restated a “sector perform” rating and set a $43.00 price objective on shares of Affirm in a research note on Friday, May 24th. BTIG Research began coverage on shares of Affirm in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, JMP Securities started coverage on shares of Affirm in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Five analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.66.

Affirm Price Performance

The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. The business’s fifty day moving average is $30.32 and its 200 day moving average is $34.72. The company has a market cap of $8.38 billion, a P/E ratio of -12.15 and a beta of 3.45.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.27. The firm had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The business’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.69) earnings per share. As a group, sell-side analysts anticipate that Affirm Holdings, Inc. will post -1.98 EPS for the current year.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the transaction, the director now directly owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Large investors have recently modified their holdings of the company. Planned Solutions Inc. bought a new stake in Affirm during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of Affirm in the fourth quarter worth $33,000. Global Wealth Strategies & Associates boosted its position in shares of Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares in the last quarter. Finally, ORG Partners LLC lifted its position in Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

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.