Affirm (NASDAQ:AFRM) Stock Price Down 7.7%

Affirm Holdings, Inc. (NASDAQ:AFRM) shares fell 7.7% during trading on Wednesday . The stock traded as low as $31.54 and last traded at $32.20. 11,542,971 shares traded hands during mid-day trading, an increase of 27% from the average session volume of 9,068,305 shares. The stock had previously closed at $34.90.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AFRM shares. Wedbush reissued an “underperform” rating and issued a $20.00 target price on shares of Affirm in a research report on Friday, February 9th. Barclays dropped their price target on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th. Royal Bank of Canada raised their target price on shares of Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group upped their price target on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Affirm has an average rating of “Hold” and a consensus price target of $27.86.

Affirm Price Performance

The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49. The firm has a market capitalization of $9.69 billion, a P/E ratio of -12.67 and a beta of 3.56. The stock’s 50 day simple moving average is $34.72 and its 200 day simple moving average is $35.96.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $591.11 million during the quarter, compared to analyst estimates of $523.92 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. As a group, analysts expect that Affirm Holdings, Inc. will post -2.45 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Planned Solutions Inc. acquired a new position in shares of Affirm in the 4th quarter valued at $25,000. Creative Financial Designs Inc. ADV boosted its holdings in Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after buying an additional 300 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Affirm in the 4th quarter valued at about $33,000. Global Wealth Strategies & Associates raised its stake in shares of 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 buying an additional 470 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Affirm in the 4th quarter valued at $49,000. 69.29% of the stock is currently owned by hedge funds and other 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.