Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) saw a large growth in short interest in July. As of July 31st, there was short interest totalling 39,730,000 shares, a growth of 21.1% from the July 15th total of 32,820,000 shares. Approximately 20.5% of the company's stock are short sold. Based on an average daily volume of 18,390,000 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Trading of Affirm

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of Affirm during the 2nd quarter valued at approximately $1,386,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Affirm by 36.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,382 shares of the company's stock worth $928,000 after purchasing an additional 13,732 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Affirm by 25.0% during the second quarter. Gamco Investors INC. ET AL now owns 10,000 shares of the company's stock worth $181,000 after buying an additional 2,000 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Affirm by 217.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,788 shares of the company's stock worth $682,000 after buying an additional 25,901 shares during the period. Finally, American International Group Inc. purchased a new position in Affirm in the second quarter valued at approximately $33,000. 58.34% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research firms have commented on AFRM. JPMorgan Chase & Co. began coverage on shares of Affirm in a research note on Wednesday, May 11th. They issued a "neutral" rating and a $30.00 price objective for the company. Wedbush initiated coverage on shares of Affirm in a report on Tuesday, June 7th. They issued an "underperform" rating and a $15.00 price objective for the company. Credit Suisse Group cut their price target on shares of Affirm to $27.00 in a report on Friday, July 22nd. Bank of America lifted their target price on shares of Affirm from $39.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Mizuho decreased their target price on shares of Affirm from $79.00 to $50.00 and set a "na" rating on the stock in a research report on Tuesday, May 17th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $51.33.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $39.19 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 9.36 and a quick ratio of 9.36. The firm has a fifty day moving average price of $24.25 and a 200-day moving average price of $32.89. Affirm has a 1 year low of $13.64 and a 1 year high of $176.65. The stock has a market cap of $11.23 billion, a PE ratio of -16.54 and a beta of 3.67.

Affirm (NASDAQ:AFRM – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.26. Affirm had a negative net margin of 52.07% and a negative return on equity of 18.00%. The company had revenue of $354.80 million for the quarter, compared to the consensus estimate of $344.01 million. During the same quarter last year, the firm posted ($0.72) EPS. The firm's revenue was up 53.8% compared to the same quarter last year. Equities analysts anticipate that Affirm will post -2.43 earnings per share for the current fiscal year.

About Affirm

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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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