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

Alphabet Inc. Class C +1.06%
Alphabet Inc. Class A +1.08%
Meta Platforms -0.28%
Microsoft Corporation -0.19%
Super Micro Computer, Inc. -1.83%

Alphabet Inc. Class C

GOOG

177.29

+1.06%

Alphabet Inc. Class A

GOOGL

176.06

+1.08%

Meta Platforms

META

471.91

-0.28%

Microsoft Corporation

MSFT

420.21

-0.19%

Super Micro Computer, Inc.

SMCI

887.89

-1.83%

Super Micro Computer, Inc. (NASDAQ: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 (NASDAQ:MSFT), Google parent Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Meta Platforms, Inc. (NASDAQ: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.

Image: Shutterstock

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