Super Micro Computer Inc (NASDAQ: SMCI) has rallied a whopping 900% in the trailing twelve months but a Rosenblatt analyst is convinced it still has significant room to the upside.

Hans Mosesmann reiterated his “buy” rating on the information technology company this morning and raised his price target to $1,300 – which suggests its shares could gain another 60% from here.  

The analyst is super bullish as $SMCI stock as it is well positioned to benefit from a “robust growth in AI computing”.  

He’s confident that Super Micro Computer will push its market share gains up from mid-single digits at writing to double-digit in the coming years.

Note that the Nasdaq-listed firm saw its revenue more than double on a year-over-year basis in its latest reported quarter (find out more).

Super Micro Computer Inc offers a range of liquid cooling solutions for servers and data centers that Hans Mosesmann expects will contribute significantly to its growth story moving forward.

His research note on $SMCI assumes compound annualised growth rate of more than 50% in artificial intelligence over the next several years.

It is worth mentioning here, however, that Super Micro Computer does not currently pay a dividend to its shareholders.

The post $SMCI stock price forecast: Rosenblatt still sees a 60% upside appeared first on Invezz