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

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price 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 trading hands.

Wall Street Analyst Weigh In

AFRM has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Affirm in a research report on Tuesday. Royal Bank of Canada increased their price objective on shares of Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Finally, Wedbush reissued an “underperform” rating and issued a $20.00 price target on shares of Affirm in a research note on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.86.

Affirm Trading Down 2.1 %

The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of -12.88 and a beta of 3.57. The business’s 50-day simple moving average is $35.53 and its two-hundred day simple moving average is $34.92. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35.

Affirm (NASDAQ:AFRM) last announced its quarterly 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 analysts’ expectations of $523.92 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. Equities analysts forecast that Affirm Holdings, Inc. will post -2.45 earnings per share for the current year.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the transaction, the director now owns 78,552 shares in the company, valued at $2,701,403.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Myecfo LLC lifted its stake in Affirm by 24.2% in the first quarter. Myecfo LLC now owns 10,995 shares of the company’s stock worth $410,000 after acquiring an additional 2,144 shares during the last quarter. State of Michigan Retirement System purchased a new position in Affirm in the first quarter worth approximately $1,002,000. Omega Financial Group LLC lifted its stake in Affirm by 21.5% in the first quarter. Omega Financial Group LLC now owns 93,568 shares of the company’s stock worth $3,486,000 after acquiring an additional 16,528 shares during the last quarter. RJA Asset Management LLC purchased a new position in Affirm in the first quarter worth approximately $14,808,000. Finally, Los Angeles Capital Management LLC purchased a new position in Affirm in the first quarter worth approximately $749,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.