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

Mizuho expert Dan Dolev conscionable turned up the measurement connected the bull lawsuit for Affirm Holdings (NASDAQ:AFRM), raising his terms people to $100 from $95 portion keeping an Outperform rating. The driver: Affirm's pre-investor-forum disclosure of a $100 cardinal gross merchandise measurement (GMV) target, which implies astir 25% yearly growth. For prudent investors, the terms people rise signals increasing Wall Street condemnation that Affirm's standard communicative is inactive successful its aboriginal innings.

Mizuho framed the caller people arsenic a relation of Affirm's "upbeat" Q3 FY2026 study and "strong expert time prospects." The telephone follows a week of gathering momentum, including a Bank of America terms people hike to $88 from $82 connected a "clean bushed and raise" quarter.

The Analyst's Case

Dolev's thesis hinges connected credibility. The $100 cardinal GMV milestone is being treated arsenic a credible glide way alternatively than aspirational guidance, anchored by Affirm's Q3 FY2026 results.

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Affirm conscionable posted gross of $1.04 billion, up 33% twelvemonth implicit twelvemonth (YoY), with GMV of $11.6 billion, up 35%, marking the 10th consecutive 4th of 30%-plus GMV growth. GAAP nett income reached $102.9 million, a crisp crook toward durable profitability.

Company Snapshot

Affirm runs a bargain now, wage aboriginal (BNPL) level offering checkout installment loans. CEO Max Levchin has leaned into longer-duration loans and the Affirm Card to broaden the aboveground country beyond short-tenor BNPL.

That paper concern is the standout. Affirm Card GMV reached $2.1 billion, up 146% YoY, with 4.4 cardinal progressive cardholders. Affirm present serves 515,000 progressive merchants, up 44%.

Why the Move Matters Now

Affirm banal trades astatine astir $65, with a guardant P/E ratio of 37x and an expert statement people of $82.34. Mizuho's $100 people sits astatine the precocious extremity of the Street, signaling that the expert time storyline has reset upside expectations.