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

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on AFRM shares. JPMorgan Chase & Co. raised shares of Affirm from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $43.00 in a research note on Thursday, May 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $43.00 price objective on shares of Affirm in a research note on Friday, May 24th. Barclays reduced their price objective on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th. Mizuho reaffirmed a “buy” rating and issued a $65.00 price target on shares of Affirm in a report on Thursday, June 20th. Finally, JMP Securities assumed coverage on shares of Affirm in a report on Friday. They issued a “market perform” rating on the stock. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.66.

Affirm Stock Down 0.8 %

The stock has a market capitalization of $9.34 billion, a PE ratio of -13.55 and a beta of 3.47. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94. The business’s fifty day moving average price is $31.78 and its two-hundred day moving average price is $37.10.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate 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 company had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. During the same period in the prior year, the company earned ($0.69) earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,927,200. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 13.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Planned Solutions Inc. acquired a new position in shares of Affirm in the fourth quarter worth about $25,000. Creative Financial Designs Inc. ADV raised its position in shares of Affirm by 82.2% during the 4th 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 last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Affirm during the 4th quarter worth about $33,000. Global Wealth Strategies & Associates raised its position 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 purchasing an additional 470 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Affirm during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

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.