Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $71.36.
Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley dropped their target price on Astera Labs from $85.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC reduced their price target on Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus decreased their price target on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Roth Mkm cut their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.
View Our Latest Report on ALAB
Institutional Trading of Astera Labs
Astera Labs Trading Down 2.2 %
ALAB opened at $39.79 on Friday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $95.21. The stock’s 50 day moving average price is $51.21.
Astera Labs (NASDAQ:ALAB – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts predict that Astera Labs will post -0.56 earnings per share for the current fiscal year.
Astera Labs Company Profile
Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.
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