Horizon Technology Finance

HRZN · NASDAQ

$4.10−$0.01 (−0.24%)TodayMarket closed · Oct 20, 7:58 PM ET

Prev close $4.11

HRZN analyst rating

HoldConsensus of 5 analysts over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold5
Underperform0
Sell0

12-month price target · 8 analysts

Average $5.18 (+26.5% upside)

Low: $4.55
Now: $4.10
High: $6.30

Upgrades and downgrades

The latest rating actions, newest first

HRZN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Sep 1, 2026	Maintains	Neutral	$4.25 → $4.50	43%
Keefe, Bruyette & Woods	Aug 21, 2026	Maintains	Market Perform	$5.00 → $4.50	36%
Oppenheimer	Aug 7, 2026	Maintains	Perform	$6.00 → $5.00	34%
UBS	May 18, 2026	Maintains	Neutral	$4.50 → $4.25	43%
Oppenheimer	Mar 24, 2026	Maintains	Perform	$7.00 → $6.00	34%
B. Riley Securities	Mar 6, 2026	Maintains	Neutral	$7.00 → $5.50	0%
UBS	Nov 19, 2025	Maintains	Neutral	$6.25 → $6.50	80%

The case for and against

Updated Aug 23, 2026

Bull case

Horizon Technology is facing short-term challenges, such as lower prepayment activity and lower debt yields, which have led to weaker financials and a dividend cut. However, its merger with MRCC and the expected capital infusion will enable the company to originate larger and more profitable deals in the long-term, improving its NII and NAV. Although there are concerns about credit quality, the company's portfolio is seeing growth, and future investments in the technology and healthcare industries are promising, which supports the positive outlook on the stock.

Bear case

Horizon Technology is facing significant credit issues, as evidenced by their high level of non-accruals and decline in NAV, which was primarily driven by a major write-down. This pattern of credit issues, along with management changes, poses a significant risk to the company's ability to generate consistent returns. Additionally, while the company may benefit from its focus on the venture lending market, it faces macroeconomic risk and uncertainty as credit markets have slowed.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.