What's Going On With Super Micro Stock After Earnings?

Super Micro Computer, Inc. SMCI shares are trading lower Wednesday after the company posted mixed third-quarter financial results Tuesday after the market close.

The Details:

Super Micro Computer reported quarterly earnings of $6.65 per share which beat the analyst consensus estimate of $5.78 by 15.05% and represents a 307.98% increase over earnings of $1.63 per share from the same period last year.

Quarterly sales clocked in at $3.85 billion which missed the analyst consensus estimate of $3.952 billion by 2.58% and is a 200.08% increase year-over-year.

Late Tuesday night, Jim Cramer said "Insane night with SuperMicro getting whacked on a pretty q …," in a social media post on X. 

Rosenblatt analyst Hans Mosesmann maintained a Buy rating on Super Micro Computer and $1300 price target following the print. Wedbush analyst Matt Bryson maintained Super Micro with a Neutral and raised the price target from $530 to $800.

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Will SMCI Stock Go Up?

When trying to assess whether or not Super Micro Computer will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $1108.62 on Super Micro Computer. The Street high target is currently at $1500 and the Street low target is $530. Of all the analysts covering Super Micro Computer, 9 have positive ratings, 4 have neutral ratings and no one has negative ratings.

In the last month, 5 analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Super Micro Computer have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Super Micro Computer is 449.39% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Super Micro Computer, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

SMCI Price Action: According to Benzinga Pro, Super Micro shares are down 15.4% at $726.41 at the time of publication Wednesday.

Image: Courtesy of Super Micro Computer, Inc.