Mizuho Hikes Affirm Price Target to $100 as $100 Billion GMV Goal Powers Bull Case

"Mizuho analyst Dan Dolev just turned up the volume on the bull case for Affirm Holdings ( NASDAQ:AFRM | AFRM Price Prediction), raising his price target to $100 from $95 while keeping an Outperform rating. The driver: Affirm's pre-investor-forum disclosure of a $100 billion gross merchandise volume (GMV) target, which implies roughly 25% annual growth. For prudent investors, the price target raise signals growing Wall Street conviction that Affirm's scale story is still in its early innings."

"Dolev's thesis hinges on credibility. The $100 billion GMV milestone is being treated as a credible glide path rather than aspirational guidance, anchored by Affirm's Q3 FY2026 results. Affirm just posted revenue of $1.04 billion, up 33% year over year (YoY), with GMV of $11.6 billion, up 35%, marking the 10th consecutive quarter of 30%-plus GMV growth. GAAP net income reached $102.9 million, a sharp turn toward durable profitability."

"Affirm runs a buy now, pay later (BNPL) platform offering checkout installment loans. CEO Max Levchin has leaned into longer-duration loans and the Affirm Card to broaden the surface area beyond short-tenor BNPL. That card business is the standout. Affirm Card GMV reached $2.1 billion, up 146% YoY, with 4.4 million active cardholders. Affirm now serves 515,000 active merchants, up 44%."

"Affirm stock trades at around $65, with a forward P/E ratio of 37x and an analyst consensus target of $82.34. Mizuho's $100 target sits at the high end of the Street, signaling that the analyst day storyline has reset upside expectations. The relative-execution story is also notable. Klarna ( NYSE:KLAR) stock is down 45%"

Affirm Holdings received a higher bullish price target of $100 from $95 while maintaining an Outperform rating. The update is tied to a disclosed $100 billion gross merchandise volume target, implying about 25% annual growth. The outlook is supported by an upbeat Q3 FY2026 report and strong analyst day prospects. Affirm reported $1.04 billion in revenue, up 33% year over year, and $11.6 billion in GMV, up 35%, marking a 10th consecutive quarter of 30%+ GMV growth. GAAP net income reached $102.9 million, indicating a shift toward durable profitability. The Affirm Card business showed rapid expansion, with $2.1 billion in card GMV, up 146% year over year, and 4.4 million active cardholders.

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