SolarEdge Technologies (SEDG) to Release Quarterly Earnings on Wednesday

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) will release its earnings data after the market closes on Wednesday, May 8th. Analysts expect SolarEdge Technologies to post earnings of ($1.59) per share for the quarter. SolarEdge Technologies has set its Q1 2024 guidance at EPS.Persons that wish to listen to the company's earnings conference call can do so using this link.

SolarEdge Technologies (NASDAQ:SEDG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The semiconductor company reported ($1.41) EPS for the quarter, topping analysts' consensus estimates of ($2.01) by $0.60. The company had revenue of $316.04 million during the quarter, compared to the consensus estimate of $319.97 million. SolarEdge Technologies had a net margin of 1.15% and a return on equity of 5.00%. On average, analysts expect SolarEdge Technologies to post $-5 EPS for the current fiscal year and $2 EPS for the next fiscal year.

SolarEdge Technologies Stock Performance

Shares of SEDG stock traded down $0.55 on Wednesday, reaching $58.10. The stock had a trading volume of 2,117,146 shares, compared to its average volume of 2,364,892. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28. The firm's 50-day moving average is $65.77 and its two-hundred day moving average is $76.03. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 131.58 and a beta of 1.51. SolarEdge Technologies has a 12 month low of $53.59 and a 12 month high of $315.34.

Analysts Set New Price Targets

Several research analysts have weighed in on SEDG shares. Citigroup lowered their price target on shares of SolarEdge Technologies from $89.00 to $83.00 and set a "neutral" rating on the stock in a report on Wednesday, February 21st. B. Riley lowered their target price on shares of SolarEdge Technologies from $133.00 to $124.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Barclays increased their price target on shares of SolarEdge Technologies from $50.00 to $61.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 16th. Canaccord Genuity Group began coverage on shares of SolarEdge Technologies in a research report on Tuesday, January 16th. They set a "hold" rating and a $80.00 price target on the stock. Finally, Piper Sandler reduced their price target on shares of SolarEdge Technologies from $105.00 to $77.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $98.38.

Insiders Place Their Bets

In other news, Director More Avery acquired 7,000 shares of SolarEdge Technologies stock in a transaction on Thursday, February 29th. The stock was acquired at an average cost of $67.75 per share, with a total value of $474,250.00. Following the transaction, the director now owns 77,446 shares of the company's stock, valued at approximately $5,246,966.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.17% of the stock is currently owned by insiders.

About SolarEdge Technologies

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.