Affirm (NASDAQ:AFRM) Issues Earnings Results, Misses Expectations By $0.21 EPS

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

Shares of NASDAQ:AFRM opened at $92.06 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.33. Affirm has a 12-month low of $46.50 and a 12-month high of $146.90. The business has a fifty day simple moving average of $69.36 and a 200 day simple moving average of $69.37.

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Affirm from $73.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, August 30th. Truist raised their target price on Affirm from $82.00 to $120.00 and gave the company a “buy” rating in a report on Monday, August 30th. Royal Bank of Canada raised their target price on Affirm from $87.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, August 30th. Bank of America raised their target price on Affirm from $71.00 to $82.00 and gave the company a “buy” rating in a report on Wednesday, August 25th. Finally, Truist Securities increased their price target on Affirm from $82.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, August 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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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