SolarEdge Technologies (SEDG:NSD) is scheduled to release its earnings report after the market closes on May 3rd, Wednesday. Analysts anticipate the company to report earnings of $1.95 per share for the quarter.
Previous Quarter Earnings:
In its previous earnings report released on February 13th, SolarEdge Technologies reported earnings per share (EPS) of $2.86 for the quarter, surpassing the consensus estimate of $1.58 by $1.28.
The company’s revenue for the quarter amounted to $890.70 million, compared to the estimated $879.06 million. SolarEdge Technologies recorded a net margin of 3.02% and a return on equity of 10.04%.
The company’s revenue for the quarter increased by 61.4% compared to the previous year’s quarter. For the current fiscal year, analysts predict SolarEdge Technologies to post an EPS of $7, and $10 EPS for the following fiscal year.
SEDG Stock Price Analysis:
As of Wednesday’s opening, SEDG stock shares traded at $309.21, with a 50-day moving average of $303.08 and a 200-day moving average of $289.41. The company has a market capitalization of $17.42 billion, a price-to-earnings (P/E) ratio of 187.40, a P/E/G ratio of 1.48, and a beta of 1.43.
The company’s 12-month low is $190.15, and its 12-month high is $375.90. SolarEdge Technologies has a current ratio of 3.26, a quick ratio of 2.44, and a debt-to-equity ratio of 0.31.
As per Stock Target Advisor’s data, SEDG stock currently has a consensus rating of “Strong Buy” and an average price target of $360.00.
SEDG Stock-Analyst Ratings:
A number of brokerages have recently commented on SEDG, with Wells Fargo & Company increasing its price objective on the stock from $367.00 to $374.00 and giving it an “overweight” rating in a research note released on February 15th.
Meanwhile, Morgan Stanley maintained an “equal weight” rating and reduced the price target from $374.00 to $370.00 on April 3rd.
Deutsche Bank, on the other hand, increased its price target on SEDG from $260.00 to $345.00 and assigned it a “hold” rating in a research note released on January 17th.
Janney Montgomery Scott initiated coverage on SEDG with a “buy” rating and a $351.00 price target on April 5th.
Finally, B. Riley reduced its price target on the stock from $370.00 to $368.00 on Tuesday.
On Monday, April 3rd, insider Meir Adest sold 2,500 shares of SolarEdge Technologies at an average price of $307.81, resulting in a total transaction value of $769,525.00. Following the sale, Adest now directly owns 134,177 shares of the SEDG stock, valued at approximately $41,301,022.37. Company insiders currently own 1.17% of SEDG stock shares.
SolarEdge Technologies, Inc., together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. It operates in Solar and All Other segments.
The company sells its products to the providers of solar PV systems; and solar installers and distributors, electrical equipment wholesalers, and PV module manufacturers, as well as engineering, procurement, and construction firms. SolarEdge Technologies, Inc. was incorporated in 2006 and is headquartered in Herzliya, Israel.