Affirm (NASDAQ:AFRM) Releases Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Affirm (NASDAQ:AFRM) announced its quarterly earnings results on Wednesday. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.21), Briefing.com reports. Affirm had a negative net margin of 34.01% and a negative return on equity of 53.97%. The firm had revenue of $261.80 million for the quarter, compared to analyst estimates of $224.39 million. Affirm’s revenue for the quarter was up 70.8% compared to the same quarter last year.

Shares of Affirm stock opened at $92.06 on Friday. The company’s 50-day moving average price is $69.36 and its two-hundred day moving average price is $69.37. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. Affirm has a 52 week low of $46.50 and a 52 week high of $146.90.

Several equities analysts have recently issued reports on AFRM shares. Truist Securities boosted their price target on shares of Affirm from $82.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affirm from $67.00 to $105.00 and gave the stock a “hold” rating in a report on Friday. Stephens began coverage on shares of Affirm in a report on Monday, June 21st. They issued an “underweight” rating and a $55.00 price objective for the company. Zacks Investment Research downgraded shares of Affirm from a “hold” rating to a “sell” rating in a report on Wednesday, September 1st. Finally, Truist upped their price objective on shares of Affirm from $82.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Affirm has an average rating of “Hold” and a consensus target price of $95.50.

About Affirm

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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