Zacks Upgrades Super Micro Computer to Outperform (SMCI)
Super Micro Computer (NASDAQ:SMCI) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday. The firm currently has a $28.10 target price on the stock. Zacks‘s price target would suggest a potential upside of 14.09% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Super Micro Computer in a research note on Wednesday, August 6th. They now have a $32.00 price target on the stock, up previously from $30.00.
Super Micro Computer (NASDAQ:SMCI) traded up 1.30% during mid-day trading on Wednesday, hitting $24.95. 202,843 shares of the company’s stock traded hands. Super Micro Computer has a 1-year low of $12.51 and a 1-year high of $27.28. The stock’s 50-day moving average is $25.33 and its 200-day moving average is $21.51. The company has a market cap of $1.123 billion and a P/E ratio of 21.16.
Super Micro Computer (NASDAQ:SMCI) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $428.07 million for the quarter, compared to the consensus estimate of $395.96 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 32.8% on a year-over-year basis. On average, analysts predict that Super Micro Computer will post $1.74 earnings per share for the current fiscal year.
Super Micro Computer, Inc develops and provides end-to-end green computing solutions for Enterprise IT, Datacenter, Cloud Computing, High Performance Computing (NASDAQ:SMCI), and Embedded Systems globally.
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