Affirm (NASDAQ:AFRM) Shares Gap Down to $14.32

Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) shares gapped down prior to trading on Wednesday . The stock had previously closed at $14.32, but opened at $13.38. Affirm shares last traded at $13.36, with a volume of 3,434,843 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial decreased their price objective on Affirm from $30.00 to $21.00 in a research note on Wednesday, November 9th. UBS Group assumed coverage on Affirm in a research note on Tuesday, November 29th. They issued a “neutral” rating and a $14.00 price objective for the company. DA Davidson decreased their price objective on Affirm from $32.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, January 20th. Bank of America cut Affirm from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $13.00 in a research note on Tuesday, December 13th. Finally, Stephens decreased their price objective on Affirm from $18.00 to $15.00 and set an “underweight” rating for the company in a research note on Wednesday, November 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.83.

Affirm Stock Performance

The company has a debt-to-equity ratio of 1.68, a current ratio of 11.41 and a quick ratio of 11.41. The stock has a 50 day simple moving average of $11.67 and a two-hundred day simple moving average of $19.45. The company has a market cap of $3.79 billion, a PE ratio of -5.93 and a beta of 2.82.

Affirm (NASDAQ:AFRM – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.04). Affirm had a negative net margin of 45.24% and a negative return on equity of 25.51%. The firm had revenue of $361.62 million during the quarter, compared to analysts’ expectations of $360.72 million. Equities analysts predict that Affirm Holdings, Inc. will post -3.5 EPS for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 17,287 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $14.27, for a total value of $246,685.49. Following the completion of the sale, the director now owns 69,147 shares in the company, valued at $986,727.69. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders sold 51,861 shares of company stock worth $751,812. 12.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Versor Investments LP increased its holdings in shares of Affirm by 20.5% in the second quarter. Versor Investments LP now owns 16,000 shares of the company’s stock valued at $289,000 after purchasing an additional 2,720 shares during the period. Royal London Asset Management Ltd. increased its holdings in shares of Affirm by 16.7% in the second quarter. Royal London Asset Management Ltd. now owns 61,680 shares of the company’s stock valued at $1,115,000 after purchasing an additional 8,843 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Affirm by 37.2% in the second quarter. Envestnet Asset Management Inc. now owns 35,429 shares of the company’s stock valued at $640,000 after purchasing an additional 9,599 shares during the period. Private Ocean LLC acquired a new position in shares of Affirm in the third quarter valued at approximately $35,000. Finally, Treasurer of the State of North Carolina acquired a new position in shares of Affirm in the second quarter valued at approximately $1,341,000. Institutional investors and hedge funds own 67.49% of the company’s stock.

Affirm Company Profile

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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 from one to sixty months.