AIThe Motley Foolabout 8 hours ago
Why Astera Labs Rocketed Higher in May
1 min read
Astera Labs stock surged 76.1% in May, reaching $315.48 after reporting 93.5% revenue growth to $308.4 million and 84.8% adjusted earnings growth to $0.61. The company guided to $360 million in quarterly revenue, reflecting 26% quarter-over-quarter growth. CEO Jitendra Mohan highlighted the Scorpio X fabric switch as expected to become Astera's top-selling product by year-end. Evercore ISI raised its price target from $215 to $297, citing positive channel checks.
Level
Hype check
Tap to vote and see what everyone thinks.
