Super Micro Computer

SMCI · NASDAQ

$32.47+$0.37 (+1.15%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $32.10

SMCI analyst rating

HoldConsensus of 16 analysts over the last 12 months. 31% rate it a buy.

Strong buy0
Buy5
Hold8
Underperform1
Sell2

12-month price target · 20 analysts

Average $42.91 (+32.2% upside)

Low: $15.15
Now: $32.47
High: $63.00

Upgrades and downgrades

The latest rating actions, newest first

SMCI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Rosenblatt	Oct 16, 2026	Maintains	Buy	$51.00	45%
Citigroup	Oct 8, 2026	Maintains	Neutral	$39.00 → $45.00	81%
Mizuho	Oct 6, 2026	Maintains	Neutral	$35.00 → $43.00	59%
Citigroup	Aug 12, 2026	Maintains	Neutral	$33.00 → $39.00	81%
Goldman Sachs	Aug 12, 2026	Maintains	Sell	$30.00 → $34.00	60%
Mizuho	Aug 12, 2026	Maintains	Neutral	$34.00 → $35.00	59%
Wedbush	Aug 12, 2026	Maintains	Neutral	$34.00 → $40.00	72%
Needham	Aug 12, 2026	Maintains	Buy	$46.00	44%
Barclays	Aug 12, 2026	Maintains	Equal-Weight	$38.00 → $39.00	58%
Rosenblatt	Aug 12, 2026	Maintains	Buy	$45.00 → $51.00	45%

The case for and against

Updated Oct 14, 2026

Bull case

Super Micro Computer is positioned favorably because demand for AI datacenter infrastructure is translating into exceptional order momentum, with more than $60B of new orders, about 70% pure AI, and record backlog supporting FY’27 revenue guidance of $65B-$72B versus ~$52.5B consensus. Its DCBBS architecture, rack-level liquid cooling, and broad platform exposure across CPU, GPU, storage, networking, and services should deepen content per deployment and support margin expansion as enterprise and channel revenue rose to 50% of sales and the customer base expanded to nine >$1B customers in FY’26. Although gross margin should normalize from 17.6% to 10.4%-10.8% in F1Q’27 as AI mix reaccelerates, operating leverage remains strong, cash flow improved to $722M, and liquidity strengthened to $7.5B of cash with net debt down to $1.2B.

Bear case

Super Micro Computer is viewed negatively because its latest results showed revenue of $11.12B near the low end of guidance while management blamed customer readiness delays, not durable demand, for shipments slipping into subsequent quarters. Despite the strong 17.6% gross margin and $1.70 non-GAAP EPS, margins are expected to fall sharply to 10.4%-10.8% in Q1 as mix normalizes, exposing how dependent profitability is on timing and product mix rather than steady fundamentals. The outlook is further pressured by unresolved legal scrutiny tied to export control issues, a concentrated customer base with one customer at 28% of full-year revenue, cyclical industry risk, and meaningful debt that could strain cash flow if growth or margins weaken.

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