Affirm (NASDAQ:AFRM) Issues Earnings Results, Beats Estimates By $0.35 EPS

Affirm (NASDAQ:AFRMGet Rating) issued its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.35, MarketWatch Earnings reports. Affirm had a negative return on equity of 22.95% and a negative net margin of 74.96%. The business had revenue of $354.80 million during the quarter, compared to analyst estimates of $344.01 million. During the same period in the prior year, the company posted ($0.72) EPS. The business’s revenue for the quarter was up 53.8% compared to the same quarter last year. Affirm updated its FY 2022 guidance to EPS and its Q4 2022 guidance to EPS.

Shares of NASDAQ:AFRM opened at $23.71 on Friday. Affirm has a one year low of $13.64 and a one year high of $176.65. The stock has a fifty day moving average of $34.94 and a 200-day moving average of $73.18. The company has a current ratio of 7.12, a quick ratio of 7.12 and a debt-to-equity ratio of 1.62.

In related news, major shareholder Private Ltd Gic acquired 134,197 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was bought at an average price of $34.98 per share, for a total transaction of $4,694,211.06. Following the transaction, the insider now owns 812,086 shares of the company’s stock, valued at $28,406,768.28. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 2,107,799 shares of company stock valued at $68,998,013 in the last quarter. Insiders own 16.48% of the company’s stock.

Large investors have recently made changes to their positions in the business. Covestor Ltd acquired a new stake in Affirm during the 1st quarter valued at $30,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Affirm during the 4th quarter valued at $93,000. NewEdge Advisors LLC acquired a new stake in Affirm during the 4th quarter valued at $235,000. Toroso Investments LLC raised its stake in Affirm by 18.0% during the 4th quarter. Toroso Investments LLC now owns 2,560 shares of the company’s stock valued at $257,000 after purchasing an additional 390 shares during the period. Finally, Forum Financial Management LP acquired a new stake in Affirm during the 4th quarter valued at $297,000. 58.34% of the stock is currently owned by institutional investors.

A number of brokerages recently issued reports on AFRM. Piper Sandler decreased their price objective on Affirm from $58.00 to $32.00 in a report on Friday. Loop Capital began coverage on Affirm in a report on Wednesday, January 19th. They issued a “hold” rating and a $72.00 price objective for the company. Royal Bank of Canada decreased their price objective on Affirm from $58.00 to $48.00 in a report on Friday. Mizuho upped their target price on Affirm from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, March 15th. Finally, DA Davidson cut their target price on Affirm from $75.00 to $50.00 in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $71.53.

About Affirm (Get Rating)

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.

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Earnings History for Affirm (NASDAQ:AFRM)

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