SAN JOSE — Stifel analyst Tore Svanberg raised his price target for Astera Labs to $460 from $260 on June 24, 2026, and reiterated a Buy rating. Astera Labs stock increased more than 31% in the month prior to June 29, 2026.

Astera Labs shares increased 392.8% over the 52 weeks prior to June 29, 2026, and 169.6% year-to-date as of the same date. The stock reached a 52-week high of $440.99. On June 23, 2026, Bank of America increased its price target for the company to $450 from $240.

Astera Labs joined the Nasdaq-100 Index on June 22, 2026. The company reported preliminary first quarter fiscal 2026 results on May 5, 2026, showing revenue of $308.4 million, an increase of 93.4% year-over-year. Non-GAAP gross profit for the period reached $235.6 million, up 97.4% year-over-year, with a non-GAAP gross margin of 76.4%.

The company's non-GAAP net income for the first quarter fiscal 2026 increased 84.6% year-over-year to $110.7 million. Non-GAAP earnings per share for the same period were $0.61. For the second quarter fiscal 2026, Astera Labs expects revenue between $355 million and $365 million and projects a non-GAAP gross margin of approximately 73%. The company also projects non-GAAP diluted earnings per share between $0.68 and $0.70 for the second quarter.

Founded in 2017, Astera Labs is headquartered in San Jose, California, and has a market capitalization of approximately $67.2 billion. The stock trades at 130.39 times forward adjusted earnings and 43.41 times sales. Analysts forecast second quarter fiscal 2026 earnings per share of $0.42. For the full fiscal year 2026, analysts expect earnings per share to reach $1.84, with projections for fiscal 2027 at $2.71 per share.

Among 21 analysts covering Astera Labs, 10 recommend Strong Buy, two assign Moderate Buy, and nine suggest Hold. The average analyst price target is $283.89.