SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stock Has Average Price Target of $38.33

Key Points

• Analyst sentiment is cautious: Eighteen firms give SolarEdge Technologies an average “Reduce” rating, with five sells, eleven holds and two buys. The average 12-month price target is $38.33.
• The stock remains under pressure: Shares opened at $31.06, well below their 52-week high of $81.25, with a market capitalization of $1.91 billion and a negative P/E ratio of -6.90.
• Quarterly results exceeded estimates but profitability remains weak: SolarEdge reported $0.05 in adjusted EPS and $346.2 million in revenue, while posting a 20.29% negative net margin; analysts expect a full-year loss of $1.20 per share.

SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) has been given an average recommendation of "Reduce" by the eighteen ratings firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $38.33.

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of SolarEdge Technologies from $34.00 to $30.00 and set a "sell" rating on the stock in a research report on Thursday, August 6th. Morgan Stanley lowered their price objective on shares of SolarEdge Technologies from $35.00 to $33.00 and set an "equal weight" rating for the company in a report on Friday, September 11th. Wall Street Zen raised SolarEdge Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, October 11th. Barclays cut their price objective on SolarEdge Technologies from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 7th. Finally, Mizuho upped their target price on SolarEdge Technologies from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday, September 11th.

Institutional Investors Weigh In On SolarEdge Technologies

Several hedge funds have recently made changes to their positions in SEDG. State of Wyoming increased its stake in shares of SolarEdge Technologies by 32.9% in the 1st quarter. State of Wyoming now owns 1,237 shares of the semiconductor company's stock worth $63,000 after acquiring an additional 306 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of SolarEdge Technologies by 18.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company's stock valued at $97,000 after acquiring an additional 479 shares during the last quarter. Allworth Financial LP acquired a new position in shares of SolarEdge Technologies during the 2nd quarter valued at about $31,000. Nykredit A S acquired a new position in shares of SolarEdge Technologies during the 2nd quarter valued at about $36,000. Finally, Swiss National Bank grew its holdings in shares of SolarEdge Technologies by 0.9% in the first quarter. Swiss National Bank now owns 118,200 shares of the semiconductor company's stock valued at $6,034,000 after purchasing an additional 1,100 shares during the period. 95.10% of the stock is currently owned by institutional investors.

SolarEdge Technologies Stock Performance

NASDAQ:SEDG opened at $31.06 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.03 and a debt-to-equity ratio of 0.85. The firm's fifty day simple moving average is $32.92 and its 200 day simple moving average is $44.68. The stock has a market cap of $1.91 billion, a P/E ratio of -6.90 and a beta of 1.44. SolarEdge Technologies has a twelve month low of $28.21 and a twelve month high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The business had revenue of $346.20 million during the quarter, compared to analyst estimates of $341.15 million. During the same period in the prior year, the business earned ($0.81) EPS. The company's revenue for the quarter was up 19.6% on a year-over-year basis. As a group, research analysts predict that SolarEdge Technologies will post -1.20 EPS for the current year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc NASDAQ: SEDG develops technologies for generating, storing and managing solar energy. The company is best known for its power optimizer and inverter architecture, which is designed to improve energy harvesting from photovoltaic panels and provide monitoring and control at the module level.

Its product portfolio includes power optimizers, residential and commercial inverters, battery-storage systems, backup-power solutions, electric-vehicle charging equipment and energy-management software.

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