Affirm Holdings Inc AFRM shares are trading lower by 16.66% at $17.16. Weakness is likely in sympathy with financial services peer Upstart Holdings Inc UPST, which is trading lower after reporting first-quarter earnings results and issuing second-quarter and FY22 sales guidance below analyst estimates.
Upstart said first-quarter revenue increased 156% year-over-year to $310 million, which beat the $300.12 million estimate. The company reported quarterly earnings of 61 cents per share, which beat the estimate of 50 cents per share... Read More
Stephens & Co. analyst Vincent Caintic also downgraded Affirm from Equal-Weight to Underweight and lowered the price target from $51 to $17.
Affirm Holdings offers a platform for digital and mobile-first commerce.
According to data from Benzinga Pro, Affirm has a 52-week high of $176.65 and a 52-week low of $18.39.
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