These Analysts Boost Their Forecasts On Astera Labs After Upbeat Results

alab ALAB reported better-than-expected third-quarter EPS and sales on Monday.

Astera Labs reported quarterly earnings of 23 cents per share which beat the analyst consensus estimate of 17 cents per share. The company reported quarterly sales of $113.09 million which beat the analyst consensus estimate of $97.44 million.

“Astera Labs delivered strong Q3 results, setting our fifth consecutive quarterly revenue record and grew 47% versus the previous quarter,” said Jitendra Mohan, Astera Labs’ Chief Executive Officer. “Our business has now entered a new growth phase with multiple product families ramping across AI platforms based upon both third-party GPUs and internally developed AI accelerators. With expanding product portfolio including the new Scorpio Fabric Switches, we are cementing our position as a critical part of AI connectivity infrastructure, delivering increased value to our hyperscaler customers, and unlocking additional multi-year growth trajectories for Astera.”

Astera Labs said it sees fourth-quarter revenue of $126 million to $130 million and adjusted earnings of 25 cents to 26 cents per share.

Astera Labs shares jumped 38.7% to trade at $96.60 on Tuesday.

These analysts made changes to their price targets on Astera Labs following earnings announcement.

• Barclays analyst Tom O’Malley maintained Astera Labs with an Overweight and raised the price target from $70 to $87.
• Craig-Hallum analyst Richard Shannon maintained the stock with a Buy and raised the price target from $75 to $105.
• Deutsche Bank analyst Ross Seymore maintained Astera Labs with a Buy and boosted the price target from $60 to $100.
• JP Morgan analyst Harlan Sur maintained the stock with an Overweight and raised the price target from $70 to $110.
• Stifel analyst Tore Svanberg maintained Astera Labs with a Buy and boosted the price target from $80 to $100.
• Morgan Stanley analyst Joseph Moore maintained Astera Labs with an Overweight and raised the price target from $74 to $94.
• Roth MKM analyst Suji Desilva maintained the stock with a Buy and raised the price target from $80 to $105.

Considering buying ALAB stock? Here’s what analysts think:

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