Affirm Holdings, Inc. (AFRM) shares plummeted 5.76% during intraday trading on Friday. The significant decline follows the company's recent fiscal second-quarter earnings release and subsequent reactions from Wall Street analysts.

The buy now, pay later provider reported quarterly results that surpassed analyst expectations for earnings and revenue. However, investor sentiment turned negative due to concerns over the company's forward-looking guidance, which aligned with or slightly trailed consensus estimates, raising questions about near-term growth prospects.

Adding to the downward pressure, multiple major Wall Street firms, including JPMorgan, Stephens, BofA Global Research, RBC, TD Cowen, and UBS, lowered their price targets on Affirm stock following the earnings report. These analyst actions reflect heightened caution about the company's future performance in the current macroeconomic environment for consumer finance.