HRZN

Horizon Technology Finance Corp

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Advanced Chart

7.410

-0.33(-4.264%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

7.760

Open

7.740

VWAP

7.51

Vol

791.66K

Mkt Cap

299.03M

Low

7.375

Amount

5.95M

EV/EBITDA(TTM)

Total Shares

36.04M

705.63M

EV/OCF(TTM)

P/S(TTM)

17.52

Horizon Technology Finance Corporation is a specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries. The Company's investment objective is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. It is focused on making secured debt investments to venture capital and private equity-backed companies and publicly traded companies in its target industries. It seeks to invest in companies that vary by their stage of development, their target industries and sectors of target industries and their geographical location, as well as by the venture capital and private equity sponsors that support its portfolio companies. The Company’s adviser is Horizon Technology Finance Management LLC.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q2

FY2025Q1

FY2024Q4

24.46M

-4.72%

0.278

-22.86%

26.67M

+2.08%

0.326

-14.27%

25.68M

-8.86%

0.318

-29.26%

Estimates Revision

The market is revising No Change the revenue expectations for Horizon Technology Finance Corporation (HRZN) for FY2024, with the revenue forecasts being adjusted by 0% over the past three months. During the same period, the stock price has changed by -0.67%.

Revenue Estimates for FY2024

No Change

0.00%

In Past 3 Month

EPS Estimates for FY2024

No Change

0.00%

In Past 3 Month

Stock Price

Go Down

-0.67%

In Past 3 Month

5 Analyst Rating

2.56% Upside

Wall Street analysts forecast HRZN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HRZN is 7.60 USD with a low forecast of 6.50 USD and a high forecast of 10.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

1 Buy

2 Hold

2 Sell

Hold

2.56% Upside

Current: 7.410

Low

6.50

Averages

7.60

High

10.00

2.56% Upside

Current: 7.410

Low

6.50

Averages

7.60

High

10.00

UBS

Neutral

maintain

2025-07-16

Reason

UBS

Price Target

2025-07-16

maintain

Neutral

Reason

UBS raised the firm's price target on Horizon Technology to $8 from $7.50 and keeps a Neutral rating on the shares.

B. Riley

Sell -> Neutral

upgrade

$9 -> $7

2025-05-13

Reason

B. Riley

Price Target

$9 -> $7

2025-05-13

upgrade

Sell -> Neutral

Reason

B. Riley upgraded Horizon Technology to Neutral from Sell with a price target of $7, down from $9, following a transfer in coverage. The firm transferred coverage of the business development companies. While credit trends remain broadly stable across most portfolios and dividend coverage "appears supported," tighter spreads, lower prepayment activity, and "tapered" forecasts of origination activity are weighing modestly on near-term earnings visibility, the analyst tells investors in a research note. The firm's Buy ratings reflect "differentiated" origination strategies, favorable returns on equity, and stable-to-improving portfolio metrics. Riley names Trinity Capital (TRIN), Sixth Street Specialty Lending (TSLX), and Blue Owl Capital (OBDC) its top BDC ideas.

UBS

Vilas Abraham

Hold

Maintains

$9 → $8.25

2025-04-17

Reason

UBS

Vilas Abraham

Price Target

$9 → $8.25

2025-04-17

Maintains

Hold

Reason

UBS analyst Doug Harter lowered the firm's price target on Horizon Technology to $8.25 from $9 and keeps a Neutral rating on the shares as part of a Q1 earnings preview for the business development companies. The focus for investors during earnings will be on the outlook for credit quality given the increased economic uncertainty, the analyst tells investors in a research note. The firm says that while the pullback in the sector has made valuations more attractive, the overhang from credit quality concerns and earnings drag from lower short-term rates will persist. UBS cut price targets to reflect a lower return on equity outlook from slower loan growth and lower target multiples given increased economic uncertainty.

Keefe, Bruyette & Woods

Paul Johnson

Sell

Maintains

$8 → $7.5

2025-04-08

Reason

Keefe, Bruyette & Woods

Paul Johnson

Price Target

$8 → $7.5

2025-04-08

Maintains

Sell

Reason

Maxim Group

Michael Diana

Strong Buy

Maintains

$15 → $13

2025-03-10

Reason

Maxim Group

Michael Diana

Price Target

$15 → $13

2025-03-10

Maintains

Strong Buy

Reason

Maxim lowered the firm's price target on Horizon Technology to $13 from $15 and keeps a Buy rating on the shares after its Q4 earnings miss. The company's investment portfolio grew for the second consecutive quarter after three quarters of decline or no growth, but the firm lowers its price target on lower net asset value and no cushion in dividend coverage, the analyst tells investors in a research note.

Keefe, Bruyette & Woods

Paul Johnson

Sell

Maintains

$9 → $8

2025-03-07

Reason

Keefe, Bruyette & Woods

Paul Johnson

Price Target

$9 → $8

2025-03-07

Maintains

Sell

Reason

Keefe Bruyette lowered the firm's price target on Horizon Technology to $8 from $9 and keeps an Underperform rating on the shares. The firm cites continued net asset value degradation and a slightly higher expected cost of debt for the price target reduction.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Horizon Technology Finance Corp (HRZN.O) is 5.32, compared to its 5-year average forward P/E of 8.70. For a more detailed relative valuation and DCF analysis to assess Horizon Technology Finance Corp 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Undervalued

5Y Average PE

8.70

Current PE

5.32

Overvalued PE

10.88

Undervalued PE

6.51

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

0.00

Current EV/EBITDA

0.00

Overvalued EV/EBITDA

0.00

Undervalued EV/EBITDA

0.00

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Undervalued

5Y Average PS

3.95

Current PS

2.74

Overvalued PS

4.88

Undervalued PS

3.02