Rosenblatt Securities Raises Price Target on HIVE Following Strong Q1 Results
HIVE Digital Technologies (Nasdaq: HIVE) has seen its price target raised by Rosenblatt Securities from $5.50 to $6, reflecting confidence in the company's transition into AI infrastructure and high-performance computing. The move follows strong first-quarter fiscal year 2027 results where revenue surged 73% YoY to $79.1 million, with adjusted earnings turning positive at $13.4 million. The CEO highlighted that HIVE’s GPU cloud business has reached 'critical mass,' supported by a new five-year contract worth approximately $350 million and bringing total contracted AI revenue to around $180 million. Despite reporting a GAAP net loss of $142.9 million, the company attributed this largely to non-cash charges related to a Swedish tax dispute it claims is unwarranted. Rosenblatt's upgrade aligns with broader optimism from other firms that have reiterated bullish price targets ranging between $6 and $10 for HIVE in August 2026.
Tickers: $HIVE
Topics: AI expansion earnings report HIVE price target increase