Affirm (NASDAQ:AFRM) Stock Price Down 4.5%

Affirm Holdings, Inc. (NASDAQ:AFRM) fell 4.5% during trading on Tuesday . The stock traded as low as $29.58 and last traded at $29.67. 903,594 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 9,717,815 shares. The stock had previously closed at $31.06.

Wall Street Analyst Weigh In

AFRM has been the topic of several recent analyst reports. Morgan Stanley downgraded Affirm from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $15.00 to $20.00 in a research note on Monday, December 18th. Royal Bank of Canada lifted 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. Stephens lifted their target price on Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. BMO Capital Markets lifted their target price on Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. lifted their target price on Affirm from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Affirm currently has an average rating of “Hold” and an average target price of $26.97.

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 stock has a fifty day moving average price of $37.25 and a 200 day moving average price of $34.41.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $591.11 million during the quarter, compared to analysts’ expectations of $523.92 million. As a group, research 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 the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $34.39, for a total transaction of $319,001.64. Following the completion of the transaction, the director now owns 78,552 shares in the company, valued at approximately $2,701,403.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors and hedge funds have recently bought and sold shares of AFRM. Voloridge Investment Management LLC bought a new stake in Affirm during the 4th quarter valued at $147,583,000. Norges Bank bought a new stake in Affirm during the 4th quarter valued at $20,544,000. Vanguard Group Inc. raised its position in Affirm by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 16,498,384 shares of the company’s stock valued at $763,545,000 after purchasing an additional 1,883,050 shares in the last quarter. State Street Corp raised its position in Affirm by 96.6% during the 2nd quarter. State Street Corp now owns 3,571,814 shares of the company’s stock valued at $64,507,000 after purchasing an additional 1,755,252 shares in the last quarter. Finally, BlackRock Inc. raised its position in Affirm by 38.2% during the 1st quarter. BlackRock Inc. now owns 5,180,921 shares of the company’s stock valued at $239,773,000 after purchasing an additional 1,432,202 shares in the last quarter. 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.