Affirm (NASDAQ:AFRM) Trading Down 6.9%

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Get Free Report) fell 6.9% during Friday’s trading. The company was already trading at $30.95 and last traded at $31.11. 4,762,708 shares were traded during midday trading, down 45% from average session volume of 8,694,859 shares. Shares previously closed at $33.43.

Analysts set new price targets

AFRM has been the subject of several analyst reports. BTIG Research initiated coverage of Affirm in a report on Friday, June 7. They set a “neutral” rating for the stock. In a report published on Thursday, May 9, JPMorgan Chase & Co. upgraded shares of Affirm from “neutral” to “overweight” and increased their price target for the company from $41.00 to $43.00. BMO Capital Markets lowered their target price 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 10. Needham & Company LLC reissued a “hold” rating on shares of Affirm on Thursday, May 9. Finally, Barclays lowered their target price on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 16th. Five analysts rated the company with a sell rating, nine with a hold rating, and four with a buy rating. Based on data from MarketBeat, the consensus rating for the stock is “Hold” and the consensus price target is $29.09.

See our latest analysis for AFRM

Confirmation of inventory decline by 7.6%

The company’s 50-day simple moving average is $32.06 and its 200-day simple moving average is $37.58. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of -13.86 and a beta of 3.47. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt to equity ratio of 2.43.

Affirm ( NASDAQ:AFRM – Get Free Report ) last announced its earnings results on Wednesday, May 8. The company reported ($0.43) earnings per share 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 company’s revenue for the quarter was $576.00 million, compared to the consensus estimate of $549.99 million. During the same quarter last year, the company generated EPS ($0.69). The company’s revenue for the quarter increased 51.2% year-over-year. Sell-side analysts predict that Affirm Holdings, Inc. will report -1.98 EPS for the current fiscal year.

Insider Buying and selling at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the company’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 completion of the sale, the director now directly owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.05% of shares are owned by corporate insiders.

Institutional Affirmation Trading

A number of hedge funds and other institutional investors have recently modified their holdings in AFRM. In the third quarter, Victory Capital Management Inc. strengthened its position in Affirm shares by 7.5%. Victory Capital Management Inc. now owns 24,232 shares of the company’s stock valued at $515,000 after purchasing an additional 1,694 shares in the last quarter. In the third quarter, Charles Schwab Investment Management Inc. increased its stake in Affirm by 1.8%. Charles Schwab Investment Management Inc. now owns 1,298,330 shares of the company’s stock valued at $27,615,000 after purchasing an additional 23,248 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in Affirm during the third quarter worth approximately $208,000. In the third quarter, PNC Financial Services Group Inc. increased its stake in Affirm by 1.7%. PNC Financial Services Group Inc. now owns 47,378 shares of the company’s stock valued at $1,008,000 after purchasing an additional 793 shares in the last quarter. Finally, in the third quarter, QRG Capital Management Inc. acquired a new position in Affirm worth approximately $3,701,000. Institutional investors hold 69.29% of the company’s shares.

About Confirmation

(Get the free report)

Affirm Holdings, Inc operates a digital and mobile commerce platform in the United States, Canada and around the world. The company’s platform includes a consumer point-of-sale payment solution, retail solutions and a consumer-facing application. Its trading platform, agreements with originating banks and capital market partners enable consumers to pay for their purchases over time with terms of up to 60 months.

Further reading

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