Affirm (NASDAQ:AFRM) Shares Gap Down to $31.41

Affirm Holdings, Inc. (NASDAQ:AFRM) gapped down prior to trading on Thursday . The stock had previously closed at $31.41, but opened at $30.75. Affirm shares last traded at $30.99, with a volume of 583,847 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Mizuho restated a “buy” rating and issued a $65.00 price target on shares of Affirm in a research note on Thursday, June 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $43.00 price target on shares of Affirm in a research report on Friday, May 24th. Barclays decreased their price target 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. BTIG Research began coverage on shares of Affirm in a research note on Friday, June 7th. They set a “neutral” rating for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. Five equities research analysts have rated the stock with a sell rating, eight 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 a consensus target price of $32.66.

Affirm Stock Down 1.4 %

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’s 50-day moving average is $31.81 and its 200-day moving average is $37.21.

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

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of the 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 sale, the director now directly owns 60,000 shares in the company, valued at approximately $1,927,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Planned Solutions Inc. acquired a new position in Affirm in the fourth quarter valued at about $25,000. Creative Financial Designs Inc. ADV raised its stake in Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Affirm in the fourth quarter valued at about $33,000. Global Wealth Strategies & Associates raised its stake in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after purchasing an additional 470 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Affirm in the fourth quarter valued at about $49,000. 69.29% of the stock is 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.