Super Micro Computer Inc (NASDAQ:SMCI) may have delivered “softer uninspiring” preliminary quarterly results but there is a more robust future ahead highlighted by the company’s $40 billion guidance for 2026 and the news its financial filing is in the works, analysts at Wedbush believe.
Analysts repeated their ‘Neutral’ rating on the stock but boosted their price target to $40 from $24 following the release of Super Micro’s preliminary financial results for the fiscal second quarter after Tuesday’s closing bell.
Shares of Super Micro traded up 4.5% at about $40 per share on Wednesday afternoon.
“While we are significantly lifting our price target to $40 from $24 given our increased 2026 sales outlook and a modestly higher applied multiple, with much of the upside captured by Super Micro’s appreciation over the last week, we continue to see shares as appropriately valued and remain ‘Neutral’ on the name,” they wrote.
For fiscal Q2, Super Micro said that it expects to report revenue in the range of $5.5 billion to $6.1 billion, at the lower end of its previous guidance.
However, Wedbush noted that management’s full-year forecast of $23.5 billion to $25 billion implies a strong uptick in fiscal Q4.
“Super Micro’s guide for $40 billion in sales in fiscal 2026 suggests conditions only improve in the out quarters,” they wrote.
“We certainly see potential normalization of Blackwell server availability in the out quarters will lead to a sharp uptick in revenue for Super Micro, however, we are simply less confident those gains are enough to support a $40 billion run rate in fiscal 2026.”
Further, Super Micro said it expects to file its financials by the February 25 deadline, another positive development according to the analysts.
“Super Micro filing its financials should reduce uncertainty and we see reasons to believe it's business should expand significantly in the first half of 2026,” they wrote.
“At the same time, we are hesitant to model as aggressively as management's forecast, with our revised outlook still anticipating healthy 44% year-over-year growth, and we also believe Super Micro’s second flirtation with questionable financials will necessarily continue to weigh somewhat on the company's perceived risk profile and the multiple investors are willing to pay.”