What's Going On With Affirm Holdings Stock Today?

What's Going On With Affirm Holdings Stock Today?

Affirm Holdings Inc AFRM shares are trading lower Wednesday after Target Corp TGT shares fell on weak earnings results. Target uses Affirm's buy now, pay later option. 

  • TGT Revenue: $26.04 billion missed estimate of $26.09 billion
  • TGT EPS: 39 cents missed estimate of 73 cents

Target said inventory actions put significant pressure on its near-term profitability.

Still, the retailer reaffirmed full-year revenue growth guidance in the low- to mid-single digit range. The company said it expects an operating margin rate around 6% in the back half of the year.

See Also: Why Target Stock Is Sliding Today

Target announced a partnership with Affirm last year. The retailer uses Affirm as a payment option. Target customers have the option to split the total cost of purchases over $100 into simple monthly payments using the company's buy now, pay later technology.

AFRM Price Action: Affirm has a 52-week high of $102.21 and a 52-week low of $13.64.

The stock was down 6.54& at $37.30 at press time, according to Benzinga Pro.

Photo: courtesy of Affirm.

Posted In: why it's movingEarningsNewsMoversTrading Ideas