Affirm (NASDAQ:AFRM) Stock Price Down 8.5%

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AFRM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $43.00 price target on shares of Affirm in a research note on Friday, May 24th. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and increased their price target for the company from $41.00 to $43.00 in a research note on Thursday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. BMO Capital Markets decreased their price objective on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Friday, May 10th. Finally, Mizuho restated a “buy” rating and issued a $65.00 price objective on shares of Affirm in a report on Thursday, June 20th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $32.66.

Affirm Stock Performance

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 stock has a fifty day simple moving average of $30.67 and a two-hundred day simple moving average of $34.96. The stock has a market capitalization of $8.18 billion, a price-to-earnings ratio of -12.26 and a beta of 3.45.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data 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 company had revenue of $576.00 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.69) EPS. Analysts forecast that Affirm Holdings, Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $29.89, for a total value of $277,259.64. Following the transaction, 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 hyperlink. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several large investors have recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates lifted its position in Affirm by 94.0% in 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 in the last quarter. Planned Solutions Inc. bought a new position in shares of Affirm during the 4th quarter worth approximately $25,000. ORG Partners LLC lifted its position in shares of Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Affirm during the 4th quarter worth approximately $33,000. Finally, Myecfo LLC lifted its position in shares of Affirm by 6.1% during the 2nd quarter. Myecfo LLC now owns 11,671 shares of the company’s stock worth $353,000 after buying an additional 676 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

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.