Affirm (NASDAQ:AFRM) Trading Down 8.5%

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. Mizuho reissued a “buy” rating and issued a $65.00 price target on shares of Affirm in a report on Thursday, June 20th. Barclays reduced their price target on Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upgraded shares of Affirm from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $43.00 in a report on Thursday, May 9th. Finally, BMO Capital Markets dropped their price target on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $32.66.

Affirm Trading Up 2.4 %

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 has a 50 day simple moving average of $30.32 and a two-hundred day simple moving average of $34.72. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of -12.15 and a beta of 3.45.

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

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $29.89, for a total transaction of $277,259.64. Following the completion of the sale, the director now owns 73,623 shares of the company’s stock, valued at approximately $2,200,591.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several institutional investors have recently modified their holdings of the company. Planned Solutions Inc. acquired a new position in shares of Affirm during the fourth quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of Affirm in the fourth quarter valued at $33,000. Global Wealth Strategies & Associates boosted its position in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares during the period. Finally, ORG Partners LLC grew its stake in Affirm by 80.0% in 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 in the last quarter. Institutional investors own 69.29% of the company’s stock.

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.