NEW YORK, June 26, 2026, 13:04 EDT
- Vertiv Holdings Co NYSE:VRT dropped 6.6% to $304.15 by midday in New York. The company’s market cap stood close to $119.3 billion.
- The decline in the share price erased roughly $8.4 billion from Vertiv’s equity value, according to calculations. That’s over 80% of the company’s projected FY2025 revenue.
- The drop outpaced declines seen in the Technology Select Sector SPDR Fund (NYSEARCA:XLK), the Invesco QQQ Trust Series 1 NASDAQ:QQQ, and Eaton Corporation plc NYSE:ETN.
- Analyst targets sit close to $380 on average, so valuation remains the sticking point, not guidance.
Vertiv Holdings Co NYSE:VRT slid over 6% on Friday, making what started as a normal retreat in an AI-infrastructure favorite a big loss for the day. Shares changed hands at $304.15 as of 12:49 p.m. EDT, off $21.42 since Thursday’s close, after hitting a session low just above $300.
Vertiv’s market cap was close to $119.3 billion at that price. Shares dropped, wiping out around $8.4 billion from its equity value on the day, based on that valuation and share count. That loss is about 82% of the $10.2 billion Vertiv reports as FY2025 revenue.
That’s why this matters. Vertiv is still traded as a straightforward play on the power and cooling pinch in AI data centers. When the multiple drops, the hit to market cap isn’t minor.
The stock dropped much harder than the main ETFs. Technology Select Sector SPDR Fund (NYSEARCA:XLK) slipped 1.2%. Invesco QQQ Trust Series 1 NASDAQ:QQQ dipped 0.5%. SPDR S&P 500 ETF Trust NYSEARCA:SPY was flat around midday.
Industrial names sold off, but Vertiv held its valuation gap. Eaton Corporation plc NYSE:ETN dropped 4.5% to around 39x earnings, and Ingersoll Rand Inc. (NYSE:IR) fell 0.7% at about 55x. Vertiv’s trailing P/E stayed near 76.
AI-linked stocks slipped. The Philadelphia SE Semiconductor index dropped 4.1%, heading for its biggest weekly loss in more than a year after rallying 87% in 2024. NVIDIA Corp NASDAQ:NVDA and Micron Technology Inc. NASDAQ:MU also traded lower. Ben Fulton, CEO of WEBs Investments, said chip stocks saw profit taking and “short-term opportunity trading.” Reuters
Vertiv’s last update didn’t suggest any slowdown. In April, Vertiv posted Q1 net sales of $2.65 billion, a 30% jump from last year. The company also lifted its full-year 2026 sales outlook to $13.5 billion to $14.0 billion, expecting organic sales growth between 29% and 31%.
Vertiv CEO Giordano Albertazzi said customers are asking for “faster deployment, greater reliability, and comprehensive services” as infrastructure gets denser and deployment schedules get shorter. Vertiv Investors
Most analysts remain overweight on the stock. WSJ/FactSet puts the average price target at $379.53, with the median at $378. That’s well above the $302.50 quoted on their site.
Bernstein SocGen’s Varun Govindaraj started coverage of Vertiv at outperform with a $416 target price on June 9. Govindaraj noted Vertiv makes data-center power and cooling gear and is the only large pure-play name in its field. According to the same report, Bernstein’s 2028 revenue forecast is about 15% higher than consensus.
Vertiv’s next report is for the second quarter. The company expects Q2 net sales between $3.25 billion and $3.45 billion, with organic sales growth at 20% to 24%. Vertiv guided to an adjusted operating margin of 20.7% to 21.7%. WSJ data has the Q2 earnings date as Aug. 5.
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