What's Going On With Super Micro Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Super Micro Computer, Inc. (NASDAQ:SMCI) reported mixed Q3 financial results, with earnings per share of $6.65 beating estimates but quarterly sales of $3.85 billion missing expectations. Despite the earnings beat, shares traded lower. Analysts have a positive outlook, with an average 12-month price target of $1108.62, suggesting potential upside. Rosenblatt and Wedbush analysts maintained positive and neutral ratings, respectively, with adjusted price targets.
May 01, 2024 | 3:08 pm
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Super Micro Computer reported mixed Q3 results, beating EPS estimates but missing on revenue, with shares trading lower. Analysts maintain a positive outlook with significant price target adjustments.
Despite the earnings beat, the stock's short-term movement is neutral due to mixed financial results. Analysts' positive ratings and price target adjustments indicate a bullish long-term outlook, but the immediate reaction to the earnings report and missed revenue expectations tempers short-term expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100