Affirm (NASDAQ:AFRM) Stock Price Down 4.5% After Analyst Downgrade

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) were down 4.5% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $50.00 to $41.00. Barclays currently has an overweight rating on the stock. Affirm traded as low as $29.58 and last traded at $29.67. Approximately 903,594 shares changed hands during trading, a decline of 91% from the average daily volume of 9,717,815 shares. The stock had previously closed at $31.06.

A number of other research analysts also recently issued reports on AFRM. Stephens boosted their price target on Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Needham & Company LLC began coverage on Affirm in a report on Wednesday, April 3rd. They set a “hold” rating on the stock. Wedbush reiterated an “underperform” rating and set a $20.00 target price on shares of Affirm in a report on Friday, February 9th. BMO Capital Markets upped their target price on Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Finally, Royal Bank of Canada upped their price target on Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.86.

Insider Activity

In other news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $34.39, for a total transaction of $319,001.64. Following the completion of the transaction, the director now owns 78,552 shares in the company, valued at $2,701,403.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AFRM. Charles Schwab Investment Management Inc. lifted its stake in Affirm by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,298,330 shares of the company’s stock worth $27,615,000 after purchasing an additional 23,248 shares during the last quarter. QRG Capital Management Inc. bought a new stake in shares of Affirm during the third quarter valued at approximately $3,701,000. Trexquant Investment LP raised its stake in shares of Affirm by 79.1% during the third quarter. Trexquant Investment LP now owns 395,889 shares of the company’s stock valued at $8,421,000 after acquiring an additional 174,807 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Affirm during the fourth quarter valued at approximately $1,816,000. Finally, AXQ Capital LP bought a new stake in shares of Affirm during the third quarter valued at approximately $735,000. Institutional investors own 69.29% of the company’s stock.

Affirm Stock Down 0.2 %

The company’s 50 day moving average price is $36.73 and its two-hundred day moving average price is $34.45. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35. The stock has a market cap of $9.47 billion, a P/E ratio of -12.40 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. The firm had revenue of $591.11 million during the quarter, compared to the consensus estimate of $523.92 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. As a group, research analysts expect that Affirm Holdings, Inc. will post -2.45 earnings per share for the current year.

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.