Nextpower (NASDAQ:NXT) Stock Gets Price Target Reduction from Wells Fargo & Company

Key Points

• Wells Fargo cut Nextpower’s price target from $151 to $125 but maintained an “overweight” rating, implying roughly 60% upside from the prior close. The broader analyst consensus remains “Moderate Buy,” with an average target of $136.
• Nextpower’s latest results exceeded expectations, with quarterly EPS of $1.31 versus the $1.10 consensus and revenue of $1.11 billion versus $1.06 billion expected. Management also raised fiscal 2027 EPS guidance and authorized a $500 million share repurchase program.
• The stock fell 2.1% to $78.17 and remains well below its 52-week high of $163.13. Company insiders sold about $10 million of shares over the past 90 days, while institutional investors own 67.41% of the stock.

Nextpower (NASDAQ:NXT - Get Free Report) had its price objective reduced by equities research analysts at Wells Fargo & Company from $151.00 to $125.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective suggests a potential upside of 59.90% from the company's previous close.

NXT has been the topic of a number of other reports. TD Cowen raised shares of Nextpower to a "hold" rating in a research report on Monday, October 5th. Jefferies Financial Group set a $115.00 price target on shares of Nextpower in a research report on Friday, October 16th. UBS Group restated a "buy" rating on shares of Nextpower in a research note on Friday. Citigroup reissued an "outperform" rating on shares of Nextpower in a report on Thursday. Finally, Truist Financial upped their target price on shares of Nextpower from $140.00 to $145.00 and gave the company a "buy" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $136.00.

Nextpower Stock Down 2.1%

NXT stock traded down $1.66 during midday trading on Friday, hitting $78.17. 414,504 shares of the company traded hands, compared to its average volume of 2,381,609. Nextpower has a twelve month low of $75.40 and a twelve month high of $163.13. The business has a 50 day simple moving average of $82.58 and a 200-day simple moving average of $106.76. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 1.98 and a beta of 1.94.

Nextpower (NASDAQ:NXT - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.21. Nextpower had a net margin of 15.98% and a return on equity of 26.13%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. Equities research analysts forecast that Nextpower will post 3.80 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Charles D. Boynton sold 4,500 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $79.98, for a total value of $359,910.00. Following the sale, the chief financial officer owned 354,000 shares in the company, valued at $28,312,920. This represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel S. Shugar sold 67,636 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $103.07, for a total value of $6,971,242.52. Following the transaction, the chief executive officer owned 871,131 shares of the company's stock, valued at $89,787,472.17. The trade was a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 100,431 shares of company stock worth $10,039,748 in the last ninety days. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nextpower

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC boosted its position in Nextpower by 20.2% during the second quarter. Tidal Investments LLC now owns 102,483 shares of the company's stock valued at $12,210,000 after purchasing an additional 17,221 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Nextpower during the 2nd quarter worth $1,792,000. Reynders McVeigh Capital Management LLC raised its position in shares of Nextpower by 15.0% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 157,897 shares of the company's stock valued at $18,812,000 after purchasing an additional 20,547 shares during the last quarter. Lombard Odier Asset Management Europe Ltd grew its holdings in shares of Nextpower by 63.5% during the first quarter. Lombard Odier Asset Management Europe Ltd now owns 127,421 shares of the company's stock valued at $15,361,000 after buying an additional 49,505 shares during the last quarter. Finally, J. Safra Sarasin Holding AG acquired a new position in shares of Nextpower in the first quarter valued at about $2,378,000. Institutional investors own 67.41% of the company's stock.

Key Headlines Impacting Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Nextpower reported fiscal Q2 2027 adjusted earnings of $1.31 per share, ahead of the $1.10 consensus estimate, while revenue reached $1.11 billion versus expectations of $1.06 billion. Earnings also increased from $1.19 per share a year earlier. Nextpower Q2 Earnings and Revenues Beat Estimates
• Positive Sentiment: Management raised fiscal 2027 EPS guidance to $4.61-$4.87, above the $4.50 analyst consensus. Revenue guidance of $4.2-$4.5 billion brackets the $4.3 billion consensus, with the midpoint modestly above expectations.
• Positive Sentiment: The company authorized a $500 million share repurchase program, supported by approximately $953 million in cash, which could provide a demand catalyst and signal confidence in future cash generation. Nextpower Stock: Revenue Surges and Buyback
• Positive Sentiment: Analysts remain constructive: JPMorgan, Susquehanna, and Needham retained bullish ratings, with target prices implying substantial potential upside even after revisions.

Nextpower Company Profile

Nextracker Inc is a renewable energy technology company that designs, manufactures and supplies intelligent solar-tracking systems for utility-scale and large commercial solar power projects. Its systems adjust the position of solar panels throughout the day to help photovoltaic modules capture more sunlight and improve energy production.

The company's product portfolio includes single-axis solar trackers, structural components, foundations and related hardware, as well as software and controls designed to optimize tracker performance.

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