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

Affirm Holdings (AFRM Free Report) closed at $18.30 in the latest trading session, marking a +1.5% move 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, shares of the operator of the digital commerce platform had lost 9.85% over the past month. This has lagged the Business Services sector’s loss of 8.16% and the S&P 500’s loss of 4.82% in that time.

Wall Street will be looking for positivity from Affirm Holdings as it approaches its next earnings report date. This is expected to be November 8, 2022. The company is expected to report EPS of -$0.82, down 105% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $360.72 million, up 33.9% from the year-ago period.

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

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

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Affirm Holdings is currently a Zacks Rank #3 (Hold).

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

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

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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