Mizuho Cuts Affirm Price Target 16.7% to $95 Despite Intuit Deal
Mizuho cut its target price on Affirm by 16.7% to $95, citing an exclusive Intuit partnership with access to $2 trillion in invoices and conservative FY2026 guidance after revenue grew 30% to $1.1 billion. Analysts remain split on BNPL outlook as usage skews younger with elevated late-payment rates, raising sector sustainability concerns.
1. Mizuho Target Price Cut
On February 9, Mizuho trimmed its price target on Affirm by 16.7% to $95 while maintaining an Outperform rating, highlighting two positive catalysts that the market may be overlooking.
2. Intuit Partnership Catalyst
Affirm’s exclusive multi-year deal with Intuit designates it as the built-in pay-over-time solution in QuickBooks Payments, granting immediate access to small and mid-market businesses that process over $2 trillion in annual invoices.
3. Q2 FY2026 Results & Guidance
In Q2 FY2026, gross merchandise volume rose 36% year-over-year to $13.8 billion, active consumers grew 23% to 25.8 million, and revenue climbed 30% to $1.1 billion; management forecasts Q3 revenue of $0.97–1.00 billion (23.9%–27.7% growth) and Q4 revenue of $1.06–1.09 billion (21.0%–24.4% growth).
4. BNPL Sector Risks
Analysts remain divided on Buy Now, Pay Later providers as usage skews younger with elevated late-payment rates, raising questions about sector sustainability and potential credit risks for Affirm.