Affirm (NASDAQ:AFRM) Shares Gap Down to $31.97

Affirm Holdings, Inc. (NASDAQ:AFRM) gapped down before the market opened on Tuesday . The stock had previously closed at $31.97, but opened at $30.44. Affirm shares last traded at $32.76, with a volume of 3,679,366 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AFRM shares. Royal Bank of Canada raised their target price on Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft increased their target price on Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, February 9th. The Goldman Sachs Group boosted their price target on shares of Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Wedbush restated an “underperform” rating and set a $20.00 price objective on shares of Affirm in a report on Friday, February 9th. Finally, Stephens lifted their price objective on shares of Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.86.

Affirm Price Performance

The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35. The firm has a fifty day moving average price of $35.85 and a 200-day moving average price of $34.84.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The business had revenue of $591.11 million for the quarter, compared to analysts’ expectations of $523.92 million. Analysts anticipate that Affirm Holdings, Inc. will post -2.45 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the sale, the director now owns 78,552 shares of the company’s stock, valued at $2,701,403.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.05% of the stock is owned by company insiders.

Institutional Trading of Affirm

Hedge funds have recently made changes to their positions in the company. Planned Solutions Inc. bought a new position in shares of Affirm during the 4th quarter worth $25,000. Creative Financial Designs Inc. ADV boosted its position 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 purchasing an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of Affirm in the fourth quarter worth about $33,000. Global Wealth Strategies & Associates increased its stake in shares of Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Affirm in the fourth quarter valued at approximately $49,000. 69.29% of the stock is currently 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.