Affirm (NASDAQ:AFRM) Announces Quarterly Earnings Results

Affirm (NASDAQ:AFRM) released its quarterly earnings data on Wednesday. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.27, Briefing.com reports. The firm had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. Affirm’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.69) earnings per share. Affirm updated its Q4 2024 guidance to EPS.

Affirm Trading Up 5.9 %

AFRM traded up $1.87 during trading on Thursday, reaching $33.45. 6,789,236 shares of the company’s stock were exchanged, compared to its average volume of 9,149,640. The firm has a fifty day moving average price of $34.60 and a two-hundred day moving average price of $35.93. Affirm has a one year low of $11.57 and a one year high of $52.48. The stock has a market capitalization of $10.26 billion, a PE ratio of -13.40 and a beta of 3.56. The company has a current ratio of 11.49, a quick ratio of 11.49 and a debt-to-equity ratio of 2.35.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the sale, the director now directly owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 13.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AFRM shares. The Goldman Sachs Group raised their price objective on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Wedbush restated an “underperform” rating and set a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Thursday. BMO Capital Markets boosted their price objective on Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, February 12th. Finally, Royal Bank of Canada dropped their price objective on Affirm from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Thursday. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Affirm currently has an average rating of “Hold” and a consensus target price of $27.58.

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.