SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stock Has Consensus Target Price of $39.20

Key Points

• Analysts remain cautious: SolarEdge has an average “Reduce” rating from 18 firms, including five sells, 11 holds and two buys. The average 12-month price target is $39.20.
• Shares are under pressure: SEDG opened at $31.91, down 4.3%, and has fallen substantially from its 12-month high of $81.25.
• Quarterly results beat expectations: SolarEdge reported adjusted earnings of $0.05 per share versus an expected loss of $0.02, while revenue rose 19.6% year over year to $346.2 million. However, the company continues to post negative margins and analysts expect a full-year loss.

Shares of SolarEdge Technologies, Inc. (NASDAQ:SEDG - Get Free Report) have earned an average recommendation of "Reduce" from the eighteen research firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $39.20.

SEDG has been the subject of several analyst reports. Mizuho raised their price objective on SolarEdge Technologies from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, September 11th. Weiss Ratings downgraded SolarEdge Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, September 17th. Barclays lowered their price target on SolarEdge Technologies from $53.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 6th. TD Cowen dropped their price objective on SolarEdge Technologies from $85.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Finally, The Goldman Sachs Group cut their price objective on SolarEdge Technologies from $34.00 to $30.00 and set a "sell" rating for the company in a report on Thursday, August 6th.

Institutional Trading of SolarEdge Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at about $31,000. Nykredit A S bought a new position in SolarEdge Technologies during the second quarter worth about $36,000. Public Employees Retirement System of Ohio acquired a new position in SolarEdge Technologies during the second quarter worth approximately $72,000. State of Wyoming increased its position in SolarEdge Technologies by 32.9% during the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company's stock worth $63,000 after buying an additional 306 shares during the last quarter. Finally, EFG International AG acquired a new position in SolarEdge Technologies during the second quarter worth approximately $123,000. 95.10% of the stock is owned by institutional investors.

SolarEdge Technologies Trading Down 4.3%

NASDAQ:SEDG opened at $31.91 on Friday. The company has a market cap of $1.96 billion, a P/E ratio of -7.09 and a beta of 1.44. SolarEdge Technologies has a twelve month low of $28.21 and a twelve month high of $81.25. The business has a 50 day moving average price of $36.34 and a two-hundred day moving average price of $46.13. The company has a quick ratio of 1.38, a current ratio of 2.03 and a debt-to-equity ratio of 0.85.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.07. The business had revenue of $346.20 million for the quarter, compared to analyst estimates of $341.15 million. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.81) earnings per share. As a group, analysts expect that SolarEdge Technologies will post -1.2 EPS for the current fiscal year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc develops smart energy technology for solar power generation, energy storage and energy management. The company is best known for its DC-optimized inverter system, which uses power optimizers attached to individual solar modules to improve energy harvesting and provide module-level monitoring. Its platform is designed to support residential, commercial and utility-scale photovoltaic installations.

The company's product portfolio includes power optimizers, inverters, monitoring and management software, batteries and energy storage systems, and related solutions for backup power and electric vehicle charging.

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