Nextracker Inc. (NASDAQ:NXT) is a leading solar technology company with a current market capitalization of approximately $20.23 billion. The company is a leader in solar trackers, which are devices that orient solar panels toward the sun. It is now transitioning into an integrated utility-scale energy technology company to meet broader energy needs.
On May 13, 2026, the investment bank BNP Paribas raised its price target for Nextracker to $177, an increase from the previous target of $145. A price target is an analyst's projection of a stock's future price. At the time, the stock was trading at $135.35, meaning the new target implied a potential upside of about 30.78%.
This optimistic revision is supported by Nextracker's strong performance in its 2026 fiscal year. Nextracker announced a record full-year revenue of $3.56 billion, a 20% increase. It also concluded the year with a record backlog of over $5.25 billion. A backlog represents confirmed orders that will provide revenue in the future.
Although fourth-quarter revenue of $880.50 million was a 4.70% decrease year-over-year, it surpassed analyst expectations. As highlighted by Zacks, Nextracker also reported earnings of $1.05 per share, beating the consensus estimate of $0.89 per share. This marks the fourth straight quarter that Nextracker has topped estimates for both earnings and revenue.
Following the strong results, Nextracker's stock price experienced a 12% surge, as highlighted by Gurufocus. Management also increased its revenue outlook for fiscal 2027. It points to strong demand from the growth of data centers and electrification, which creates a high need for new power generation capacity.
