Astera Labs (NASDAQ:ALAB) Releases Q3 2024 Earnings Guidance

Astera Labs (NASDAQ:ALAB) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.160-0.170 for the period, compared to the consensus estimate of 0.110. The company issued revenue guidance of $95.0 million-$100.0 million, compared to the consensus revenue estimate of $79.3 million. Astera Labs also updated its Q3 guidance to $0.16-$0.17 EPS.

Analysts Set New Price Targets

Several research firms have weighed in on ALAB. Jefferies Financial Group initiated coverage on Astera Labs in a report on Monday, April 15th. They issued a buy rating and a $85.00 price target on the stock. Roth Mkm decreased their price target on shares of Astera Labs from $85.00 to $60.00 and set a buy rating on the stock in a report on Wednesday. Morgan Stanley lowered their price target on Astera Labs from $85.00 to $55.00 and set an equal weight rating on the stock in a research report on Wednesday. Stifel Nicolaus cut their price objective on Astera Labs from $87.00 to $80.00 and set a buy rating for the company in a report on Monday. Finally, Needham & Company LLC decreased their price objective on Astera Labs from $85.00 to $65.00 and set a buy rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $71.36.

Astera Labs Trading Down 1.4 %

Shares of ALAB stock traded down $0.56 during trading hours on Friday, reaching $40.45. 1,060,610 shares of the company’s stock were exchanged, compared to its average volume of 2,227,284. The business’s 50 day simple moving average is $55.83. Astera Labs has a 1 year low of $36.22 and a 1 year high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities analysts forecast 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.