Affirm Holdings, Inc. (NASDAQ:AFRM) to Post Q3 2024 Earnings of ($0.87) Per Share, Wedbush Forecasts

Affirm Holdings, Inc. (NASDAQ:AFRMGet Rating) – Equities research analysts at Wedbush issued their Q3 2024 EPS estimates for Affirm in a report released on Wednesday, November 9th. Wedbush analyst D. Chiaverini anticipates that the company will earn ($0.87) per share for the quarter. The consensus estimate for Affirm’s current full-year earnings is ($3.19) per share.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Affirm from $15.00 to $12.00 in a report on Wednesday. Mizuho dropped their price objective on shares of Affirm from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, September 7th. Stephens lowered their target price on shares of Affirm from $18.00 to $15.00 and set an “underweight” rating on the stock in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Affirm from $31.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Affirm from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, August 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Affirm has a consensus rating of “Hold” and an average price target of $29.72.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $14.99 on Thursday. The firm’s 50-day moving average price is $20.16 and its 200-day moving average price is $23.74. Affirm has a 1-year low of $11.94 and a 1-year high of $166.51. The firm has a market capitalization of $4.33 billion, a P/E ratio of -6.60 and a beta of 3.08. The company has a current ratio of 11.87, a quick ratio of 11.87 and a debt-to-equity ratio of 1.56.

Affirm (NASDAQ:AFRMGet Rating) last announced its quarterly earnings data on Thursday, August 25th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.20). Affirm had a negative net margin of 52.43% and a negative return on equity of 20.25%. The company had revenue of $364.10 million for the quarter, compared to analyst estimates of $354.86 million. During the same quarter in the prior year, the company posted ($0.48) EPS. Affirm’s revenue for the quarter was up 39.0% on a year-over-year basis.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 17,287 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $20.04, for a total transaction of $346,431.48. Following the completion of the transaction, the director now directly owns 86,434 shares of the company’s stock, valued at approximately $1,732,137.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TCI Wealth Advisors Inc. grew its position in shares of Affirm by 54.9% during the 1st quarter. TCI Wealth Advisors Inc. now owns 982 shares of the company’s stock valued at $46,000 after acquiring an additional 348 shares during the period. abrdn plc grew its position in shares of Affirm by 3.0% during the 2nd quarter. abrdn plc now owns 12,591 shares of the company’s stock valued at $227,000 after acquiring an additional 362 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Affirm by 32.4% during the 2nd quarter. Exchange Traded Concepts LLC now owns 2,013 shares of the company’s stock valued at $36,000 after acquiring an additional 493 shares during the period. Westside Investment Management Inc. grew its position in shares of Affirm by 39.7% during the 2nd quarter. Westside Investment Management Inc. now owns 1,901 shares of the company’s stock valued at $3,760,000 after acquiring an additional 540 shares during the period. Finally, ICONIQ Capital LLC grew its position in shares of Affirm by 7.9% during the 1st quarter. ICONIQ Capital LLC now owns 7,502 shares of the company’s stock valued at $347,000 after acquiring an additional 548 shares during the period. 72.76% of the stock is owned by institutional investors.

Affirm Company Profile

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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 from one to sixty months.

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Earnings History and Estimates for Affirm (NASDAQ:AFRM)

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