Affirm (NASDAQ:AFRM) Shares Gap Up to $29.87

Affirm Holdings, Inc. (NASDAQ:AFRM) gapped up prior to trading on Monday . The stock had previously closed at $29.87, but opened at $31.00. Affirm shares last traded at $32.10, with a volume of 2,240,311 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AFRM. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Thursday, May 9th. BTIG Research began coverage on Affirm in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Mizuho reissued a “buy” rating and issued a $65.00 price target on shares of Affirm in a report on Thursday, June 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $43.00 price objective on shares of Affirm in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. raised Affirm from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $43.00 in a report on Thursday, May 9th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.66.

Affirm Trading Down 2.2 %

The stock has a market cap of $10.19 billion, a P/E ratio of -14.78 and a beta of 3.47. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. The company has a 50-day moving average price of $31.80 and a two-hundred day moving average price of $37.26.

Affirm (NASDAQ:AFRM) last released its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.27. The firm had revenue of $576.00 million for the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.69) EPS. On average, research analysts expect that Affirm Holdings, Inc. will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the transaction, the director now owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.05% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new position in Affirm in the 4th quarter valued at $1,698,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Affirm by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock worth $67,347,000 after buying an additional 72,178 shares during the period. Trexquant Investment LP lifted its holdings in shares of Affirm by 79.1% in the 3rd quarter. Trexquant Investment LP now owns 395,889 shares of the company’s stock worth $8,421,000 after buying an additional 174,807 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Affirm in the 4th quarter worth $1,816,000. Finally, AXQ Capital LP purchased a new stake in shares of Affirm in the 3rd quarter worth $735,000. Institutional investors own 69.29% of the company’s stock.

About Affirm

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.