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

Affirm Holdings, Inc. (NASDAQ:AFRM) shares 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.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Barclays decreased their target price on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th. The Goldman Sachs Group raised their price target on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Stephens upped their price objective on Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Finally, Wedbush reissued an “underperform” rating and issued a $20.00 target price on shares of Affirm in a report on Friday, February 9th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Affirm Stock Up 2.6 %

The stock has a 50 day simple moving average of $35.85 and a 200-day simple moving average of $34.84. 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, topping the consensus estimate of ($0.28) by $0.08. The company had revenue of $591.11 million for 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%. Analysts expect that Affirm Holdings, Inc. will post -2.45 EPS for the current year.

Insider Activity

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 transaction, the director now directly owns 78,552 shares in the company, valued at approximately $2,701,403.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Several large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Affirm in the fourth quarter worth $67,310,000. Leo Wealth LLC purchased a new position in Affirm in the 4th quarter worth $57,647,000. Vanguard Group Inc. lifted its position in Affirm by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock worth $958,569,000 after acquiring an additional 769,843 shares during the period. RJA Asset Management LLC purchased a new stake in Affirm during the 1st quarter valued at about $14,808,000. Finally, Quadrature Capital Ltd purchased a new stake in Affirm during the 4th quarter valued at about $16,927,000. Hedge funds and other institutional investors 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.