Why Affirm Shares Are Falling

Affirm Holdings Inc AFRM is trading lower Monday after raising guidance, which showed company expectations still remain below analyst estimates. 

Affirm said it expects fiscal third-quarter revenue to be at least $335 million, which is up from previous guidance calling for revenue between $325 million and $335 million, but still below the $340.24 million estimate.

The buy now, pay later company also raised full-year guidance from a range of $1.29 billion to $1.31 billion to at least $1.31 billion versus the $1.32 billion estimate.

Related Link: Here's Why Affirm Raised Guidance Today

Truist Securities analyst Andrew Jeffrey maintained Affirm with a Buy rating and lowered the price target from $100 to $55.

Affirm offers a platform for digital and mobile-first commerce. The platform consists of a point-of-sale payment solution for consumers, merchant commerce solutions and a consumer-focused app.

AFRM 52-Week Range: $30.78 - $176.65

Affirm shares were down 10.90% at $27.50 at time of publication.

Photo: courtesy of Affirm.