Super Micro Computer (SMCI - Free Report) shares rallied 13.3% in the last trading session to close at $51.63. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.1% gain over the past four weeks.
The increase in share price can be attributed to raising of fourth quarter fiscal 2022 (ended Jun 30, 2022) guidance by the company owing to bump in customer design wins and increase in total IT solution value.
The company now expects net sales to be in the range of $1.58-$1.63 billion compared with earlier guided range of $1.4-$1.48 billion. Non-GAAP earnings are now expected to be in the range of $2.30- $2.40 per share compared with earlier guided range of $1.51- $1.69 per share.
The company is scheduled to report fiscal fourth quarter results on Aug 9, 2022.
This server technology company is expected to post quarterly earnings of $1.55 per share in its upcoming report, which represents a year-over-year change of +91.4%. Revenues are expected to be $1.44 billion, up 34.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Super Micro, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SMCI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Super Micro belongs to the Zacks Computer- Storage Devices industry. Another stock from the same industry, Netlist, Inc. (NLST - Free Report) , closed the last trading session 49.5% lower at $3.33. Over the past month, NLST has returned -6.7%.
Netlist, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of -125%. Netlist, Inc. currently boasts a Zacks Rank of #3 (Hold).
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Super Micro Computer (SMCI - Free Report) shares rallied 13.3% in the last trading session to close at $51.63. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.1% gain over the past four weeks.
The increase in share price can be attributed to raising of fourth quarter fiscal 2022 (ended Jun 30, 2022) guidance by the company owing to bump in customer design wins and increase in total IT solution value.
The company now expects net sales to be in the range of $1.58-$1.63 billion compared with earlier guided range of $1.4-$1.48 billion. Non-GAAP earnings are now expected to be in the range of $2.30- $2.40 per share compared with earlier guided range of $1.51- $1.69 per share.
The company is scheduled to report fiscal fourth quarter results on Aug 9, 2022.
This server technology company is expected to post quarterly earnings of $1.55 per share in its upcoming report, which represents a year-over-year change of +91.4%. Revenues are expected to be $1.44 billion, up 34.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Super Micro, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SMCI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Super Micro belongs to the Zacks Computer- Storage Devices industry. Another stock from the same industry, Netlist, Inc. (NLST - Free Report) , closed the last trading session 49.5% lower at $3.33. Over the past month, NLST has returned -6.7%.
Netlist, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of -125%. Netlist, Inc. currently boasts a Zacks Rank of #3 (Hold).
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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