Affirm (NASDAQ:AFRM) Releases Quarterly Earnings Results, Beats Expectations By $0.44 EPS

Affirm (NASDAQ:AFRM) issued its earnings results on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.44, Zacks reports. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%.

Affirm Stock Performance

Shares of NASDAQ:AFRM traded down $1.05 during midday trading on Thursday, reaching $61.75. The company had a trading volume of 10,106,093 shares, compared to its average volume of 5,397,557. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The company’s 50 day moving average price is $63.12 and its 200 day moving average price is $48.77. Affirm has a 52-week low of $22.25 and a 52-week high of $73.34. The stock has a market cap of $19.39 billion, a P/E ratio of -43.49 and a beta of 3.66.

Insider Buying and Selling at Affirm

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the transaction, the insider now owns 93,545 shares in the company, valued at $5,149,652.25. This trade represents a 68.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $68.98, for a total value of $1,109,612.28. Following the completion of the sale, the director now directly owns 109,780 shares in the company, valued at approximately $7,572,624.40. The trade was a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,339,564 shares of company stock worth $87,252,461 over the last ninety days. 12.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on AFRM shares. Deutsche Bank Aktiengesellschaft increased their price target on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Bank of America upped their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Compass Point raised shares of Affirm from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $61.00 in a research report on Tuesday, January 28th. Finally, Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $25.00 to $45.00 in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.88.

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.