With a forward P/E of 50.44, Marvell Technology, Inc. (NASDAQ:MRVL) is among the 10 Most Overvalued Quantum Computing Stocks According to Short Sellers.
Riley raised its price target on Marvell Technology, Inc. (NASDAQ:MRVL) to $240 from $205 while maintaining a Buy rating on the shares. The firm highlighted that the company delivered results that exceeded expectations, accompanied by stronger-than-anticipated guidance. According to the analyst, performance was driven by strength in interconnected products, accelerating data center bookings, and upward revisions to revenue forecasts for fiscal 2027 and 2028.
Management also pointed to continued momentum among hyperscale customers, expanding custom compute opportunities, and the potential for earnings per share to exceed $6 in fiscal 2028 and $7.50 in fiscal 2029, reflecting growing confidence in the company’s long-term growth trajectory. On the same day, Oppenheimer analyst Rick Schafer raised the firm’s price target on Marvell Technology, Inc. (NASDAQ:MRVL) to $250 from $200 and reiterated an Outperform rating on the stock. The firm noted that Marvell reported upside results for the first quarter and provided a stronger outlook for the second quarter, primarily driven by demand for AI application-specific integrated circuits and networking solutions.