AXTI Stock Rallies Even Higher After Earnings Beat — Will The Momentum Sustain?

• The five analysts covering AXTI stock have a 12-month average price target of $87.75 on the company, indicating a downside potential of about 8.6% compared to its last close. 
• Wedbush raised the price target on AXT to $93 from $80 and maintained an ‘Outperform’ rating on the shares after its Q1 results.
• The company’s Q1 revenue increased 17%, higher than the growth analysts had forecast.

AXT Inc. (AXTI) shares have rallied sharply in 2026, soaring more than 472% as demand for its semiconductor wafer substrates, especially the indium phosphide substrates, has increased amid greater use in AI-focused data centers.

The company’s stock touched an all-time high of $96.32 on Friday after it posted stellar first-quarter (Q1) earnings results that beat Wall Street expectations, while its shares also garnered upward price target revisions.

However, data from Koyfin shows that the five analysts covering AXTI stock have a 12-month average price target of $87.75 on the company’s shares, indicating a downside potential of about 8.6% compared to its last close. Three of the analysts have a ‘Buy’ rating on the stock, while the other two rate it ‘Hold.’

Wall Street On AXTI

Last week, AXT posted its first-quarter (Q1) 2026 results. The company reported a 17% growth in quarterly revenue, coming in at $26.9 million compared to a Street expectation of $26.22 million, as per data from Fiscal.ai. The Fremont, California-based firm said that indium phosphide wafers generated more than half of its total revenue.

AXT also reported a net loss of $0.03 per share, narrower than a loss of $0.08 per share posted in the comparable period of the previous year.

B. Riley raised the price target on AXT to $73 from $72 and kept a ‘Neutral’ rating on the shares after its Q1 results. The revision indicates a downside potential of about 24% from the company’s last closing price.

Meanwhile, Wedbush raised the price target on the stock to $93 from $80 and maintained an ‘Outperform’ rating on the shares. The analyst said that the company’s first quarter signals a step function in margin improvement, adding that they believe the company’s second-quarter guidance implies significant potential for upside. Wedbush also said that it sees room for second half of the year gains beyond its modeled numbers.

The company’s management forecast revenue of about $34 million, driven by strong Indium Phosphide demand. Management also added that AXT would achieve profitability in the upcoming quarter, forecasting net income of $0.05 to $0.07 per share.

Retail Stance On AXT

On Stocktwits, retail sentiment around AXTI stock was in the ‘bullish’ territory amid ‘high’ message volumes.

One bullish user predicted the company’s shares would open at $100+ on Monday.

AXTI stock has surged a whopping 7,172.7% in the last one year.

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