Affirm Holdings (AFRM) Gains But Lags Market: What You Should Know – October 21, 2022

Confirm position (AFRM Free Report) closed at $18.30 in the last trading session, a move of +1.5% from the previous day. This move lagged the S&P 500’s daily gain of 2.37%. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.

Prior to today’s trading, the digital trading platform operator’s shares had lost 9.85% in the past month. This lagged behind the 8.16% loss in business services and the S&P 500’s 4.82% loss over that time.

Wall Street will look for positivity from Affirm Holdings as it approaches the next earnings report date. This is expected to be November 8, 2022. The company is expected to report earnings per share of -$0.82, down 105% from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for Sales forecasts net sales of $360.72 million, up 33.9% from the same period last year.

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AFRM’s Zacks Consensus Estimates for the full year assume earnings of -$3.19 per share and revenue of $1.7 billion. These results represent year-over-year changes of -27.09% and +26.32%, respectively.

It is also important to note the recent changes in analyst estimates for Affirm Holdings. These revisions help to show the ever-changing nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business prospects.

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Research indicates that these revisions to estimates are directly related to the stock’s short-term price momentum. To take advantage of this, we developed the Zacks Rank, a proprietary model that takes these estimate changes into account and provides a useful rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, externally verified track record of outperformance, with #1 stocks yielding an average of +25% per year since 1988. Over the past month, the Zacks Consensus EPS estimate has continued to stagnate. Affirm Holdings is currently a Zacks Rank #3 (Hold).

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The Business Services sector is part of the Business Services sector. This group has a Zacks Industry Rank of 185, placing it in the bottom 27% of all 250+ industries.

The Zacks Industry Rank includes is ranked from best to worst in terms of the average Zacks Rank of individual companies within each of these industries. Our research shows that the sectors with the highest 50% rating outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to track all these stock movement stats and more in the coming trading sessions.



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