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On Thursday, Jefferies analyst Julian Dumoulin-Smith increased the price target for Nextracker Inc (NASDAQ:NXT) to $63.00 from the previous $50.00, while reiterating a Buy rating on the stock. The company, currently trading at $55.04, has demonstrated remarkable momentum with a 50.67% year-to-date return and maintains an EXCELLENT financial health rating according to InvestingPro analysis. Nextracker, known for its solar tracker solutions, has recently issued a forward-looking guide for fiscal year 2026 that suggests a revenue increase of approximately 5% compared to market expectations, which has been viewed positively amid concerns of a conservative forecast. The company’s strong financial position is evidenced by its current revenue growth of 18.38% and an attractive P/E ratio of 13.57, suggesting potential value for investors. For deeper insights into Nextracker’s valuation and growth prospects, InvestingPro subscribers can access comprehensive financial analysis and 12 additional expert tips.
In addition to the updated guidance, Nextracker announced its acquisition of Bentek, a company specializing in electrical Balance of Systems (eBOS) solutions, for $78 million. Although Bentek is not expected to be a major contributor to the company’s revenue in fiscal year 2026, management anticipates that similar non-tracker business ventures could account for over one-third of Nextracker’s revenue over the next five years. The company’s strong balance sheet, with more cash than debt and a healthy current ratio of 2.09, positions it well for such strategic acquisitions.
Dumoulin-Smith’s commentary highlighted the company’s performance and strategic moves, stating, "NXT again set the tone with topline FY26 guide +~5%+ vs Buyside: nicely done against fears of a conservative guide." He also mentioned the significance of the Bentek acquisition and the potential for new business lines to be introduced in the fall, suggesting that these developments could lead to further upward revisions in the future.
The reaffirmation of the Buy rating by Jefferies reflects confidence in Nextracker’s growth trajectory and strategic initiatives. The analyst’s outlook anticipates that the unveiling of new business lines later this year will provide additional clarity on the company’s expanding revenue streams.
In other recent news, Nextracker Inc. has reported strong financial results for its fourth quarter of 2025, with earnings per share (EPS) of $1.29, significantly surpassing the forecast of $0.73. The company also exceeded revenue expectations, reporting $924 million against the anticipated $766.4 million. For the full fiscal year, Nextracker’s revenue reached $3 billion, marking an 18% increase from the previous year. Looking ahead, the company has projected fiscal 2026 revenue between $3.2 billion and $3.4 billion, with adjusted EBITDA expected to range from $700 million to $775 million.
In addition to these financial results, Nextracker has been active in strategic acquisitions, recently acquiring BenTech Corporation to expand its offerings in Electrical Balance of System (EBOS) solutions. This acquisition aligns with Nextracker’s goal to diversify its revenue streams, aiming for non-tracker revenue to represent one-third of total revenue by 2030. Barclays (LON:BARC) and JPMorgan have both responded positively to Nextracker’s performance and future outlook, with Barclays raising its price target to $64 and maintaining an Overweight rating, while JPMorgan increased its target to $65, also keeping an Overweight rating.
The company’s backlog remains robust, exceeding $4.5 billion, which suggests a secure revenue outlook for the near future. Nextracker’s strategic initiatives and strong market position have been highlighted by analysts as key factors supporting their positive assessments. These recent developments indicate a continued focus on growth and innovation within the company.
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