POET Technologies Inc. ( POET ) shares are surging on Thursday, reflecting positive sentiment in the broader market. The move comes as major indices are all in the green, with the Nasdaq up 0.97% and the Technology sector gaining 1.52%.

POET Technologies ( POET ) stock is charging ahead with explosive momentum. Why are POET shares rallying?

Broader Market Moves Higher

The stock’s upward momentum is supported by a favorable environment for technology stocks, which are benefiting from overall market strength. Analysts are optimistic about the company’s future prospects, with recent upgrades reflecting confidence in its growth trajectory.

Despite the positive market backdrop, the stock’s recent performance is particularly noteworthy. Over the past 12 months, shares have increased by 71.57%, indicating strong long-term growth potential.

POET Trades Above Key Levels

Currently, POET is trading 23.7% above its 20-day simple moving average (SMA) and 39.4% above its 100-day SMA, demonstrating solid short-term and longer-term strength. The stock is positioned closer to its 52-week highs than lows, which suggests a bullish sentiment among traders.

The RSI is at 65.42, indicating that the stock is nearing overbought territory, while the MACD is above its signal line, reflecting bullish momentum. This combination suggests that while the stock is strong, traders should be cautious of potential pullbacks as it approaches overbought levels.

The combination of a strong RSI and bullish MACD indicates positive momentum, but traders should remain vigilant for any signs of a reversal.

Key Resistance: N/A

Key Support: $7.00

Earnings & Analyst Outlook

Investors are looking ahead to the next earnings report on March 30, 2026.

EPS Estimate: $-0.06 (Up from $-0.48 YoY)

Revenue Estimate: $0.62 million (Up from $0.03 million YoY)

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $5.83. Recent analyst moves include:

Northland Capital Markets: Outperform (Raised Target to $7.00) (Dec. 2, 2024)

Craig-Hallum: Buy (Raised Target to $5.50) (Nov. 22, 2024)

Northland Capital Markets: Initiated with Outperform (Target $6.00) (Nov. 18, 2024)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for POET Technologies ( POET ), highlighting its strengths and weaknesses compared to the broader market:

Momentum: Bullish (Score: 86.87/100) — Stock is outperforming the broader market.

The Verdict: POET’s Benzinga Edge signal reveals a strong momentum setup. The high momentum score confirms the stock’s upward trend, suggesting that investors may want to capitalize on this strength while remaining aware of potential volatility.

POET Stock Is Rising

POET Price Action: POET Technologies ( POET ) shares were up 7.17% at $8.66 at the time of publication on Thursday, according to Benzinga Pro data.

Image: Shutterstock.com