Super Micro Computer (SMCI) stock surged another 6%, bringing its total gain over the past three trading sessions to 27%. The company’s shares have been on a rebound following an accounting scandal and months of declines. Recent news has boosted investor confidence, including:
* A highly anticipated business update scheduled for February 11
* Reports that a new AI data center system powered by Nvidia’s latest Blackwell microchips is set to launch
Investors are hopeful that the upcoming update will provide clarity on Super Micro Computer’s accounting issues. The Nasdaq exchange has given the company until the end of February to file its annual accounts or risk being delisted.
Over the past 12 months, SMCI stock has declined by 51%. However, analysts’ consensus is a Hold rating, with five Wall Street analysts weighing in on the stock. The average price target is $29.75, implying a 10% downside risk from current levels.
Source: https://www.tipranks.com/news/super-micro-computer-smci-stock-continues-to-surge-as-momentum-builds