Affirm (NASDAQ:AFRM) Stock Price Down 4.5% After Analyst Downgrade

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) fell 4.5% during trading on Tuesday after Barclays lowered their price target on the stock from $50.00 to $41.00. Barclays currently has an overweight rating on the stock. Affirm 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.

A number of other equities research analysts have also issued reports on the stock. Wedbush reiterated an “underperform” rating and set a $20.00 target price on shares of Affirm in a report on Friday, February 9th. Morgan Stanley downgraded shares of Affirm from an “equal weight” rating to an “underweight” rating and increased their price objective for the company from $15.00 to $20.00 in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft increased their target price 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. Royal Bank of Canada increased their target price on shares of Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Finally, BMO Capital Markets increased their target price on shares of Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, February 12th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.86.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the firm’s 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 completion of the sale, 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 can be accessed through the SEC website. Company insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in Affirm by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,298,330 shares of the company’s stock worth $27,615,000 after acquiring an additional 23,248 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Affirm during the third quarter worth about $3,701,000. Trexquant Investment LP raised its position in Affirm by 79.1% during the third quarter. Trexquant Investment LP now owns 395,889 shares of the company’s stock worth $8,421,000 after acquiring an additional 174,807 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Affirm during the fourth quarter worth about $1,816,000. Finally, AXQ Capital LP acquired a new position in Affirm during the third quarter worth about $735,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Trading Down 0.2 %

The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The company has a market cap of $9.47 billion, a price-to-earnings ratio of -12.40 and a beta of 3.57. The business’s 50-day simple moving average is $36.73 and its 200-day simple moving average is $34.45.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) EPS 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 the consensus estimate of $523.92 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. Research analysts predict that Affirm Holdings, Inc. will post -2.45 earnings per share for the current fiscal year.

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.