Affirm Shares Slide Despite Earnings Beat as Guidance Disappoints
Affirm Holdings Inc. (AFRM) tumbled 4.4% to $59.42 post-earnings despite topping Q2 estimates, as mixed forward guidance overshadowed results. The buy-now-pay-later fintech reported $0.37 EPS ($0.09 beat) and $1.12B revenue ($60M above consensus), fueled by 0% APR adoption and Affirm Card growth.
CEO Max Levchin's January stock sale of 666,666 shares at $80.62—netting $53.7M—looms over the high-P/E stock (88.69) trading below key moving averages. Analysts maintain 'Moderate Buy' ratings with $89.16 average target, as Morgan Stanley and Needham recently upgraded to Overweight and Buy respectively.