Super Micro Computer (NASDAQ: SMCI) is experiencing a significant surge in its stock price during Wednesday’s trading session. The company’s share price has increased by 6.6% as of 12:30 p.m. ET today, according to data from S&P Global Market Intelligence.
Barclays recently released a positive report on the stock, maintaining an overweight rating and raising their one-year price target to $961 per share.
Previously, the analysts had set a one-year target of $691, which Super Micro has already exceeded. In addition to the Barclays note, the company’s valuation may also be benefiting from favorable coverage on Nvidia.
Analysts are optimistic about the potential for further growth
Super Micro Computer has witnessed a substantial increase in demand for its high-performance rack servers, driven by the growing adoption of new artificial intelligence (AI) applications. This has resulted in significant gains for its stock.
Over the past year, the company’s share price has surged by approximately 828%, and…
2024-02-14 13:41:41
Article from finance.yahoo.com