What's Going On With Super Micro Computer Stock Ahead Of Earnings?

Super Micro Computer, Inc. SMCI shares are trading higher Monday, and the stock is up more than 20% over the past five days.

What To Know:

Shares of semiconductor companies rose last week following strong earnings from Microsoft Corporation MSFT, Google parent Alphabet, Inc. GOOGL GOOG and Meta Platforms, Inc. META, all of which highlighted strong demand for artificial intelligence and increasing capital expenditures in the field of AI. 

SMCI is set to report its third-quarter financial results after the bell on Tuesday and will host a conference call to discuss the results at 5:00 p.m. ET the same day. According to estimates from Benzinga Pro, analysts expect the company to report earnings of $5.84 per share and quarterly revenue of $3.99 billion.

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SMCI Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Super Micro Computer have an average 1-year price target of $961.13, representing an expected upside of 9.05%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 1 analyst has a bearish recommendation on Super Micro Computer, while 10 analysts have bullish ratings. The street high price target from Loop Capital is $1500, while the street low from Susquehanna is $250.

SMCI Price Action: According to Benzinga Pro, Super Micro shares are up 3.7% at $889.15 at the time of publication Monday.

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