Affirm (NASDAQ:AFRM) Stock Price Down 4.7% – What’s Next?

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price traded down 4.7% during trading on Monday . The stock traded as low as $71.23 and last traded at $74.14. Approximately 2,045,226 shares were traded during mid-day trading, a decline of 62% from the average session volume of 5,313,411 shares. The stock had previously closed at $77.76.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Affirm from $103.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley boosted their price objective on shares of Affirm from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday. Mizuho upped their target price on Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft upped their target price on Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. increased their target price on Affirm from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Twenty-two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.20.

Affirm Stock Down 6.1%

The firm has a market capitalization of $23.42 billion, a P/E ratio of 12.67, a PEG ratio of 2.91 and a beta of 3.61. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. The business’s fifty day moving average price is $77.45 and its two-hundred day moving average price is $64.84.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. During the same quarter in the previous year, the firm earned $0.20 EPS. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. Equities analysts expect that Affirm Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other news, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenline Wealth Management LLC purchased a new stake in Affirm in the fourth quarter valued at about $26,000. Triumph Capital Management acquired a new stake in Affirm in the third quarter worth about $31,000. Strive Financial Group LLC purchased a new stake in shares of Affirm during the fourth quarter worth about $33,000. Larson Financial Group LLC grew its stake in shares of Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after acquiring an additional 213 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Affirm by 63.6% during the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock valued at $39,000 after acquiring an additional 203 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.