TLDR
- Astera Labs stock jumped around 11% on Friday, driven by bets it could be added to the S&P 500 at the September 21 rebalancing.
- Bloom Energy also rose 7% on similar S&P 500 inclusion speculation.
- ALAB reported Q2 2026 revenue of $392.4 million, up 104% year-over-year, with EPS of $0.80 beating the $0.69 estimate.
- Q3 revenue guidance of $540 million to $560 million implies roughly 40% sequential growth.
- Multiple analysts raised price targets, including Citi at $430, Roth Capital at $450, and Northland upgrading to Outperform with a $350 target.
Astera Labs (ALAB) stock jumped roughly 11% on Friday, trading around $282 before the surge, as investors placed bets on a potential S&P 500 inclusion later this month.
Astera Labs, Inc. Common Stock, ALAB
The S&P 500 quarterly rebalancing is set for September 21. Any changes are expected to be announced after the market closes this Friday. Traders have been positioning ahead of that announcement, sending ALAB higher.
Bloom Energy (BE) also caught a bid, rising about 7% on the same S&P 500 speculation. Bloom Energy has a market cap of over $63 billion, making it a strong candidate based on size alone.
ALAB’s market cap sits at around $47.6 billion. That puts it above the S&P 500’s current minimum threshold of $22.7 billion, keeping it in the mix as a realistic addition.
HERE ARE THE TOP CONDIDATES FOR S&P 500 INCLUSION TODAY
My top pick? You already know.
Top candidates$SOFI SoFi Technologies$BE Bloom Energy$ALAB Astera Labs$LNG Cheniere Energy$P Everpure$CRDO Credo Technology$TWLO Twilio
Other credible candidates$RPRX Royalty Pharma… https://t.co/I2ptGSSG0q pic.twitter.com/IHmbMaBsdc
— Sam Badawi (@Sam_Badawi) September 4, 2026
When a stock joins the S&P 500, index funds are required to buy it. Around 30% of the index is held by passive funds, meaning any new addition sees automatic buying pressure. That dynamic alone can push a stock higher ahead of a confirmed announcement.
Barron’s also flagged Cheniere Energy (LNG), Everpure (P), Credo Technology (CRDO), Heico (HEI), Rocket (RKT), and Royalty Pharma (RPRX) as other possible additions. SpaceX (SPCX) was ruled out, as it has not been public for the required 12 months.
To make room for new names, the index is expected to drop some of its lowest market cap members. Names near the bottom include Trade Desk (TTD), Builders FirstSource (BLDR), Norwegian Cruise Line (NCLH), Molson Coors (TAP), and Mosaic (MOS).
Strong Earnings Adding Fuel
The S&P 500 speculation is not the only thing driving ALAB higher. The company recently posted Q2 2026 results that turned heads.
Revenue came in at $392.4 million, up 104% year-over-year. Adjusted EPS of $0.80 beat the consensus estimate of $0.69. Those are hard numbers to argue with.
Q3 guidance was also raised. The company is projecting revenue of $540 million to $560 million, which would represent roughly 40% sequential growth. Scorpio X AI fabric switches entered volume production ahead of schedule, and PCIe 6.0 products crossed 50% of quarterly revenue.
Analysts Lifting Targets
Wall Street has been responding. Citi raised its price target to $430. Roth Capital lifted its target to $450. Northland upgraded ALAB to Outperform with a $350 target.
The stock had fallen more than 36% from its all-time high of $499.48 before Friday’s move. That correction had left it looking stretched to the downside relative to its growth profile.
ALAB is also set to present at the Citi 2026 Global TMT Conference on September 9, which may draw further institutional interest in the coming days.
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