This Hot AI Stock Is Up 202% and Still Has Upside, According to 1 Wall Street Analyst

Super Micro Computer (NASDAQ: SMCI) stock has rocketed 202% year to date, and that follows a similar run in 2023. analyst George Wang recently raised the share price target to $961 while maintaining his buy rating on the stock. That new target represents an upside of 21% from the stock's Feb. 13 closing price.

The problem is that Supermicro (as it is more commonly known) stock is running up fast, and it could hit the analysts' target in a matter of days. Optimism about the IT rack solution provider's accelerating growth has the stock up about 8% since the analyst's updated call.

The most important question is can long-term investors reasonably expect the stock to deliver returns from these lofty share prices?

Source Fool.com