Affirm Drops 4.3% Despite Bullish Coverage

Affirm shares fell 4.7% in afternoon trading on September 9 before closing down 4.3% at $68.85, pressured by broad weakness across consumer fintech. The drop occurred even after Loop Capital Markets analyst Reginald Smith initiated coverage on September 8 with a Buy rating and a $105 price target, favoring Affirm over SoFi.

According to TipRanks, the broader Wall Street consensus on Affirm stands at Strong Buy with an average price target of $100.46, placing Loop Capital's view in line with the bullish consensus. Affirm has shown significant volatility, logging 45 moves of more than 5% over the past year.

The pullback followed a 5.3% gain late last month when Affirm reported its second-quarter 2026 results. The company posted revenue of $1.17 billion, up 33% year over year, beating expectations of $1.11 billion. GAAP profit reached $4.62 per share, well above the $0.35 consensus estimate, while pre-tax profit reached $169.1 million with a 14.5% margin, up 6.3 percentage points. Third-quarter 2026 revenue guidance was set at a midpoint of $1.21 billion, representing a 29.1% increase and topping the $1.16 billion forecast.

Affirm is down 7% since the start of the year. At $68.85 per share, the stock trades 25.3% below its 52-week high of $92.18 reached in September 2025. A $1,000 investment made five years ago is currently valued at $747.85.