In this article, we’ll look at the 12 Best Tech Stocks that Beat Earnings Estimates.
Technology stocks have once again been doing what the broader market expects of them: delivering earnings growth. In its economic and market outlook for 2026, Vanguard wrote that “U.S. corporate earnings growth and fundamentals stayed strong, powered by AI investment,” even as markets wrestled with tariffs and sticky inflation. When capital spending remains elevated and fundamentals hold, quarterly results tend to separate execution from narrative.
Vanguard also noted that “U.S. technology stocks could well maintain their momentum given the rate of investment and anticipated earnings growth.” But the firm paired that optimism with a warning. “Risks are growing amid this exuberance,” particularly because earnings expectations are already high and creative disruption can quickly reshuffle leadership. In other words, the bar is elevated. Companies are not rewarded for simply participating in the AI cycle. They have to clear increasingly demanding estimates.
This is what makes earnings beats notably relevant right now. In an environment where capital expenditures are surging and valuations remain stretched, the market is watching whether tech companies are actually converting investment into profit growth. In view of this, we’ll look at the 12 Best Tech Stocks that recently topped Wall Street expectations.
Our Methodology
To arrive at the list of the 12 Best Tech Stocks that Beat Earnings Estimates, we used the Finviz stock screener to compile a list of Tech stocks that reported earnings that exceeded consensus estimates. We then ranked the names based on the number of hedge funds holding the stock, using Insider Monkey’s hedge fund database.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
12. Nova Ltd. (NASDAQ:NVMI)
Recent Earnings Report: Q4 adjusted EPS $2.14, consensus $2.12
Number of Hedge Fund Holders: 18
On February 13, 2026, Morgan Stanley raised its price target on Nova Ltd. (NASDAQ:NVMI) to $453 from $335 and maintained an Equal Weight rating following in-line earnings and wafer fab equipment guidance. Morgan Stanley said the update raises the question of whether Nova can outperform WFE, noting that historical execution suggests it could, but adding it is “not there yet.”
Also on February 13, 2026, BofA raised its price target to $510 from $450 and kept a Buy rating after Q4 results. BofA said the beat and raise were lighter than those of larger semiconductor capital equipment peers, but expects acceleration into 2026 as sales appear heavily second-half weighted. BofA added that Nova has better visibility and new product adoption. On February 12, 2026, Jefferies raised its price target on Nova to $520 from $390 and maintained a Buy rating, noting the company’s low-double digit WFE growth outlook is more aligned with KLA Corp’s (KLAC) view than Lam Research’s (LRCX) higher forecast, and describing Nova’s outlook as “on the conservative end and there is room for upside.”
On February 12, 2026, Nova reported Q4 revenue of $222.6M versus consensus of $220.83M. CEO Gaby Waisman said, “2025 was an exceptional year for Nova,” citing record revenue and profitability while supporting manufacturing challenges across advanced and mature nodes. He added that broad-based momentum and strategic qualifications of advanced metrology solutions position the company to capitalize on the upward investment cycle in 2026.
Nova Ltd. (NASDAQ:NVMI) designs, develops, produces, and sells process control systems used in semiconductor manufacturing globally.
11. GLOBALFOUNDRIES Inc. (NASDAQ:GFS)
Recent Earnings Report: Q4 EPS 55c, consensus 47c
Number of Hedge Fund Holders: 27
On February 12, 2026, UBS raised its price target on GLOBALFOUNDRIES Inc. (NASDAQ:GFS) to $50 from $45 and maintained a Neutral rating. UBS said 2026 is likely to be a transition year as the company’s end-market exposure shifts.
Also on February 12, 2026, TD Cowen analyst Krish Sankar raised his price target to $56 from $42 and kept a Buy rating, citing upside in the December quarter results and positive CY26 commentary driven by momentum in Comm/DC, Def/Aero, and Auto, partly offset by known mobile softness. Baird analyst Tristan Gerra raised his price target the same day to $60 from $40 and maintained an Outperform rating, updating his model and describing the stock as a value play on the ongoing upcycle with improving fundamentals.
On February 11, 2026, GlobalFoundries reported Q4 EPS of 55c versus consensus of 47c and Q4 revenue of $1.83B versus consensus of $1.8B. CEO Tim Breen said, “GF delivered a strong fourth quarter,” with revenue, gross margin, operating margin, and earnings per share at or above the high end of guidance ranges. He added that Non-IFRS gross margin expanded by nearly 400 basis points year-over-year and said recent acquisitions are expanding the company’s capabilities as it serves AI Data Center, Physical AI, and on-shoring megatrends.
GLOBALFOUNDRIES Inc. (NASDAQ:GFS) is a semiconductor foundry providing mainstream wafer fabrication services and technologies worldwide.
10. Check Point Software Technologies Ltd. (NASDAQ:CHKP)
Recent Earnings Report: Q4 EPS $3.40, consensus $2.77
Number of Hedge Fund Holders: 34
On February 13, 2026, Wedbush lowered its price target on Check Point Software Technologies Ltd. (NASDAQ:CHKP) to $210 from $240 and maintained an Outperform rating following the company’s Q4 results. Wedbush said revenue came in roughly in line with the Street and beat on the bottom line, while FY26 guidance was conservative despite strong demand across the product portfolio, with SASE, E-mail, and ERM driving growth. Wedbush added that increased AI adoption is enabling more sophisticated attacks that have shrunk the attack lifecycle from weeks to minutes, reinforcing Check Point’s role as a foundational security layer.
Also on February 13, 2026, Baird analyst Shrenik Kothari lowered the price target to $220 from $245 and kept an Outperform rating after updating the model following Q4 results. Stephens lowered its price target the same day to $210 from $240 and maintained an Overweight rating, describing the quarter as mixed. Stephens said 2026 revenue and operating margin guidance were largely in line with expectations and, while confidence in the pace of improvement is slightly lower, the broader thesis remains intact.
On February 12, 2026, Check Point reported Q4 EPS of $3.40 versus consensus of $2.77 and Q4 revenue of $744.9M versus consensus of $746.42M. Calculated billings reached $1.04B. CEO Nadav Zafrir said the company “delivered solid fourth quarter and full year 2025 results,” with revenue above the midpoint of the outlook and EPS exceeding expectations, driven by customer adoption across the Hybrid Mesh Network and Workspace platforms. He added that in 2026, the company will focus on securing customers’ AI transformation and embedding AI-driven security throughout its portfolio, noting the announced acquisition of Cyata expands its AI security stack.
Check Point Software Technologies Ltd. (NASDAQ:CHKP) develops, markets, and supports IT security products and services globally, providing multilevel security architecture across cloud, network, mobile, endpoints, and IoT environments.
9. Amkor Technology, Inc. (NASDAQ:AMKR)
Recent Earnings Report: Q4 EPS 69c, consensus 44c
Number of Hedge Fund Holders: 35
On February 10, 2026, Needham analyst Charles Shi raised the price target on Amkor Technology, Inc. (NASDAQ:AMKR) to $65 from $50 and kept a Buy rating following the company’s Q4 earnings beat. The analyst noted that most reported metrics came in above consensus estimates, and said the FY26 CapEx outlook of $2.5B to $3B, a record level not previously seen in Amkor’s history and well above the Street, signals management’s strong conviction in outer-year advanced packaging growth.
Also on February 10, 2026, Morgan Stanley raised its price target to $45 from $28 and maintained an Equal Weight rating, revising EPS estimates after the Q4 report. Goldman Sachs raised its price target the same day to $43 from $38 and kept a Neutral rating, saying the stock is expected to move modestly higher after a quarter that beat Street expectations despite elevated pre-print optimism. Goldman Sachs pointed to constructive positioning around Chip-on-Wafer-on-Substrate-related spending, continued execution in advanced packaging for AI datacenters, and operational progress, including Vietnam reaching break-even and Phase 1 construction at the Arizona campus.
On February 9, 2026, Amkor reported Q4 revenue of $1.89B versus consensus of $1.84B. CEO Kevin Engel said, “2025 was a pivotal year for Amkor,” highlighting record Advanced packaging and Computing revenue and strategic execution. He added that the company is accelerating strategic investments to support the next wave of advanced packaging growth as it enters 2026 with momentum.
Amkor Technology, Inc. (NASDAQ:AMKR) provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.
8. Tower Semiconductor Ltd. (NASDAQ:TSEM)
Recent Earnings Report: Q4 EPS 70c, consensus 68c
Number of Hedge Fund Holders: 38
On February 13, 2026, Barclays raised its price target on Tower Semiconductor Ltd. (NASDAQ:TSEM) to $142 from $114 and maintained an Equal Weight rating.
Also on February 12, 2026, Wedbush raised its price target to $140 from $125 and kept a Neutral rating, viewing the quarterly update as largely positive as management lifted SiPh investment and revised longer-term targets to reflect greater benefit from the opportunity. Wedbush added that investors likely anticipated the update, with new growth and margin targets largely reflected in the current valuation. Susquehanna raised its price target the same day to $180 from $135 and maintained a Positive rating, increasing estimates to reflect quarterly results, outlook, planned capacity expansion, and updated long-term revenue and margin targets.
On February 11, 2026, Tower Semiconductor reported Q4 revenue of $440M versus consensus of $439.81M. CEO Russell Ellwanger said the company achieved its highest-ever quarterly revenue with a substantial increase in profitability, driven by growth across key technology platforms and strong performance from its SiPho platforms. He noted a previously announced $650 million CapEx investment targeted for full qualification in the second half of 2026 and announced an additional $270 million investment to expand SiPho capacity and capability. He added that the total $920 million investment targets December 2026 SiPho wafer starts capacity at more than five times Q4 2025 monthly shipments, supported by customer committed consumption, and said the company is targeting sequential quarterly increases in revenue and profitability during 2026.
Tower Semiconductor Ltd. (NASDAQ:TSEM) is an independent semiconductor foundry providing technology, development, and process platforms for integrated circuits globally.
7. Entegris, Inc. (NASDAQ:ENTG)
Recent Earnings Report: Q4 EPS 70c, consensus 66c
Number of Hedge Fund Holders: 38
On February 11, 2026, Goldman Sachs raised its price target on Entegris, Inc. (NASDAQ:ENTG) to $95 from $75 and maintained a Sell rating after results and guidance came in above Street estimates. Goldman Sachs said the beat and outlook should support the stock in the near term, while noting Entegris remains focused on improving operational execution. Goldman Sachs added that it is looking for clearer signs of a sustained cyclical upturn in the CapEx business and further evidence of execution improvement.
Also on February 11, 2026, BMO Capital raised its price target to $148 from $126 and kept an Outperform rating, saying the business met relatively high expectations following solid year-to-date stock performance. BMO Capital said 2026 should bring strong operating leverage as MSI and industry capex growth, along with multiple node transitions, help the company leverage spare capacity and de-lever the balance sheet. Citi analyst Elizabeth Sun raised her price target the same day to $155 from $145 and maintained a Buy rating.
On February 10, 2026, Entegris reported Q4 revenue of $823.9M versus consensus of $811.28M. CEO Dave Reeder said, “Our solid performance in the fourth quarter was highlighted by revenue, adjusted EBITDA margin, and non-GAAP EPS all near or above the high-end of our guidance range.” He added that 2025 unit-driven growth reflected strength in liquid filtration, selective etch and CMP consumables, with increasing volumes in advanced technologies, and said the company expects continued improvement in cash generation in 2026 to further strengthen the balance sheet and enable incremental de-leveraging.
Entegris, Inc. (NASDAQ:ENTG) provides advanced materials and process solutions for the semiconductor and other high-technology industries and operates through its Materials Solutions and Advanced Purity Solutions segments.
6. ON Semiconductor Corporation (NASDAQ:ON)
Recent Earnings Report: Q4 non-GAAP EPS 64c, consensus 62c
Number of Hedge Fund Holders: 45
On February 12, 2026, Barclays analyst Tom O’Malley initiated coverage of ON Semiconductor Corporation (NASDAQ:ON) with an Equal Weight rating and a $75 price target. Tom O’Malley said Barclays is “cautiously optimistic” on an industrial recovery as PMIs turn higher but recommends a selective approach, noting each company “faces at least one unique challenge.” He added that On Semi’s high China and auto exposure remain well-understood overhangs on the shares.
On February 10, 2026, Deutsche Bank raised its price target to $75 from $65 and maintained a Buy rating following Q4 results, describing performance as “improving, but slowly.” Needham analyst Quinn Bolton raised his price target the same day to $72 from $68 and kept a Buy rating after a Q4 earnings beat. Quinn Bolton said gross margin is expected to expand through the year as the company executes its Fab right strategy, with utilization projected to improve to the low 70% range in Q1 and into the mid-70% range in Q2 and Q3.
On February 9, 2026, On Semi reported Q4 non-GAAP EPS of 64c versus consensus of 62c. CEO Hassane El-Khoury said the company “remained disciplined in our execution and met expectations” as signs of stabilization emerged in key markets. He added that the company continues to invest in intelligent power and sensing technologies and reiterated its focus on leading in automotive, industrial, and AI data center power.
ON Semiconductor Corporation (NASDAQ:ON) provides intelligent sensing and power solutions globally and operates through its Power Solutions Group, Analog and Mixed-Signal Group, and Intelligent Sensing Group segments.
5. Astera Labs, Inc. (NASDAQ:ALAB)
Recent Earnings Report: Q4 EPS 58c, consensus 51c
Number of Hedge Fund Holders: 57
On February 11, 2026, BofA raised its price target on Astera Labs, Inc. (NASDAQ:ALAB) to $200 from $185 and maintained a Neutral rating. BofA said the newly announced $6.5B Amazon (AMZN) warrant agreement reinforces long-term demand visibility and Astera’s position in accelerating AI infrastructure buildouts. BofA also noted the warrant is expected to create about a 200 basis point headwind to gross margins, while high opex intensity continues to limit operating leverage.
Also on February 11, 2026, JPMorgan lowered its price target on Astera Labs to $205 from $215 and maintained an Overweight rating following the company’s strong results and guidance driven by AI demand and new product ramps. The firm cited lower gross margins and higher operating expenses as factors behind the target reduction.
On February 10, 2026, Astera Labs reported Q4 revenue of $270.58M versus consensus of $249.55M. CEO Jitendra Mohan said the company “delivered strong financial results in Q4” with revenue growing 17% sequentially to a record $270.6 million, capping full-year revenue growth of 115% year-over-year. He added that the market opportunity for its Intelligent Connectivity Platform continues to expand, and that Astera Labs is accelerating R&D investment, including opening a new design center in Israel.
Astera Labs, Inc. (NASDAQ:ALAB) designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure.
4. Datadog, Inc. (NASDAQ:DDOG)
Recent Earnings Report: Q4 EPS 59c, consensus 55c
Number of Hedge Fund Holders: 72
On February 11, 2026, Baird lowered its price target on Datadog, Inc. (NASDAQ:DDOG) to $180 from $220 and maintained an Outperform rating after updating its model following solid results. Baird highlighted positive, broad-based growth acceleration.
Also on February 11, 2026, Canaccord lowered its price target to $185 from $210 and kept a Buy rating, noting the company accelerated revenue for the third consecutive quarter with 29% year-over-year growth in the quarter and 28% for the year. Canaccord said continued wins with AI-native companies provide a compelling response to concerns about Datadog’s relevance as GPU workloads increase as a share of overall compute.
On February 10, 2026, Raymond James analyst Adam Tindle lowered his price target to $170 from $205 and maintained an Outperform rating following Q4 results that exceeded key metrics and initial 2026 guidance that was just above “buyside bogeys.” Adam Tindle said the target is based on 12-times his 2027 sales estimate, a premium to the 20%-plus software growth group’s high single-digit multiple, but a discount to CrowdStrike (CRWD) and Cloudflare (NET).
On February 10, 2026, Datadog reported Q4 revenue of $953M versus consensus of $918.2M. CEO Olivier Pomel said the company is “pleased with our strong execution in fiscal year 2025,” citing 28% year-over-year revenue growth, $1,050 million in operating cash flow, and $915 million in free cash flow. He added that the company delivered over 400 new features and capabilities during 2025 to support cloud migration and next-generation AI deployment.
Datadog, Inc. (NASDAQ:DDOG) operates an observability and security platform for cloud applications in the United States and internationally.
3. Fiserv, Inc. (NASDAQ:FISV)
Recent Earnings Report: Q4 adjusted EPS $1.99, consensus $1.90
Number of Hedge Fund Holders: 83
On February 11, 2026, UBS lowered its price target on Fiserv, Inc. (NASDAQ:FISV) to $70 from $75 and maintained a Neutral rating after updating its model following the Q4 earnings report. Morgan Stanley analyst James Faucette lowered his price target the same day to $64 from $81 and kept an Equal Weight rating, adjusting estimates after the quarterly results.
B. Riley also reduced its price target on February 11, 2026, to $72 from $76 and maintained a Neutral rating, describing Q4 results as mixed. B. Riley noted that Q4 EPS came in ahead of the Street while organic revenue growth was flat year over year, and said it expects a long road back to the EPS multiple Fiserv previously carried during its multi-decade run of EPS growth.
On February 10, 2026, Fiserv reported Q4 revenue of $5.284B versus consensus of $4.9B. CEO Mike Lyons said the quarter marked the first full period executing the One Fiserv plan and that the company delivered performance in line with their expectations while achieving meaningful milestones and client wins. He added that the company is increasingly confident in its ability to create sustainable value by executing on its strategic pillars.
Fiserv, Inc. (NASDAQ:FISV) provides fintech solutions, offering a platform that enables businesses to accept payments, track performance, and drive sales.
2. Applied Materials, Inc. (NASDAQ:AMAT)
Recent Earnings Report: Q1 EPS $2.38, consensus $2.21
Number of Hedge Fund Holders: 89
On February 13, 2026, Morgan Stanley analyst Shane Brett raised the price target on Applied Materials, Inc. (NASDAQ:AMAT) to $420 from $364 and kept an Overweight rating. Shane Brett said a beat-and-raise quarter, combined with 20%+ systems guidance, marks a leap toward shifting the narrative around the stock in a more constructive direction.
Also on February 13, 2026, RBC Capital raised its price target to $430 from $385 and maintained an Outperform rating. RBC said results were driven by a healthy WFE environment and secular technology trends, adding that China share loss concerns are overdone and that double-digit topline momentum is expected to continue into 2027 despite slower mature node demand. Goldman Sachs analyst James Schneider likewise raised his price target on February 13, 2026, to $390 from $310 and kept a Buy rating, pointing to a strong quarter and above-Street guidance. James Schneider noted management is projecting over 20% growth for the semiconductor equipment business in CY26, supported by spending on foundry and logic, DRAM, and advanced packaging, along with mix-related benefits.
On February 12, 2026, Applied Materials reported Q1 revenue of $7.01B versus consensus of $6.88B. CEO Gary Dickerson said the company “delivered strong results in our fiscal first quarter,” driven by accelerating AI computing investments. He highlighted demand for higher performance and more energy-efficient chips and said the company expects to grow its semiconductor equipment business more than 20 percent this calendar year.
Applied Materials, Inc. (NASDAQ:AMAT) provides materials engineering solutions, equipment, services, and software to the semiconductor and related industries globally and operates through Semiconductor Systems and Applied Global Services segments.
1. Shopify Inc. (NASDAQ:SHOP)
Recent Earnings Report: Q4 revenue $3.67B, consensus $3.59B
Number of Hedge Fund Holders: 91
On February 17, 2026, Truist upgraded Shopify Inc. (NASDAQ:SHOP) to Buy from Hold and raised its price target to $150 from $110. Truist said Shopify is one of the few software companies showing strong, accelerating growth and views the recent large drawdown in software valuations tied to AI fears as an attractive entry point for long-term investors. Truist added that Shopify can benefit from agentic commerce and continue expanding beyond its current 14%-plus share of U.S. e-commerce.
On February 16, 2026, Jefferies analyst Samad Samana lowered his price target to $125 from $160 and maintained a Hold rating after what he described as strong Q4 results and encouraging Q1 guidance. Samad Samana said the model was updated to reflect revised forecasts and multiple compressions across the software space.
On February 11, 2026, Shopify reported Q4 revenue of $3.67B versus consensus of $3.59B. President Harley Finkelstein said “2025 was Shopify at full throttle,” highlighting compounding growth while positioning for AI commerce. CFO Jeff Hoffmeister said the company closed Q4 with revenue up 31% year-over-year and a 19% free cash flow margin, bringing full-year revenue growth to 30% and a 17% free cash flow margin. He added that the company invested in Catalog, Sidekick, Universal Commerce Protocol, and its broader commerce platform while delivering strong margins.
Shopify Inc. (NASDAQ:SHOP) provides commerce technology tools that enable businesses of various sizes to start, scale, market, and operate across multiple regions globally.
While we acknowledge the potential of SHOP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SHOP and that has 100x upside potential, check out our report about this cheapest AI stock.
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