Nextpower (NASDAQ:NXT) Price Target Raised to $164.00

Key Points

• KeyCorp raised its price target on Nextpower to $164 from $152 and kept an overweight rating, implying about 6.33% upside from the prior close.
• Several other analysts remain bullish, with recent targets and ratings including Needham’s $149 buy, Jefferies’ $159 target, and Robert W. Baird’s increase to $156; overall, the stock has a Moderate Buy consensus.
• Nextpower’s shares jumped 12.4% to $154.24, and the company recently beat quarterly earnings and revenue estimates, with EPS of $1.05 versus $0.89 expected and revenue of $880.52 million versus $826.26 million expected.

Nextpower (NASDAQ:NXT - Get Free Report) had its target price raised by stock analysts at KeyCorp from $152.00 to $164.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price target indicates a potential upside of 6.33% from the company's previous close.

A number of other brokerages have also recently issued reports on NXT. Needham & Company LLC reaffirmed a "buy" rating and issued a $149.00 price objective on shares of Nextpower in a research note on Friday. Jefferies Financial Group set a $159.00 price objective on shares of Nextpower in a research note on Friday. Weiss Ratings raised shares of Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 20th. Glj Research reissued a "buy" rating and set a $147.33 price target on shares of Nextpower in a research report on Monday, March 16th. Finally, Robert W. Baird increased their price target on shares of Nextpower from $133.00 to $156.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Twenty equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $142.72.

Nextpower Stock Up 12.4%

Shares of Nextpower stock traded up $17.07 during trading on Friday, reaching $154.24. The company's stock had a trading volume of 1,847,542 shares, compared to its average volume of 2,066,476. Nextpower has a 52-week low of $51.69 and a 52-week high of $163.13. The company has a market cap of $22.90 billion, a price-to-earnings ratio of 40.34, a PEG ratio of 3.34 and a beta of 1.60. The firm's 50-day moving average is $121.07 and its two-hundred day moving average is $108.11.

Nextpower (NASDAQ:NXT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.16. Nextpower had a net margin of 16.46% and a return on equity of 28.18%. The company had revenue of $880.52 million during the quarter, compared to analysts' expectations of $826.26 million. Nextpower has set its FY 2027 guidance at 4.210-4.590 EPS. On average, equities research analysts anticipate that Nextpower will post 3.76 EPS for the current year.

Insider Activity at Nextpower

In other news, COO Nicholas Marco Miller sold 24,511 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $127.32, for a total value of $3,120,740.52. Following the completion of the sale, the chief operating officer directly owned 221,533 shares of the company's stock, valued at approximately $28,205,581.56. This trade represents a 9.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Howard Wenger sold 62,670 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $130.25, for a total transaction of $8,162,767.50. Following the completion of the sale, the president directly owned 426,467 shares of the company's stock, valued at approximately $55,547,326.75. This represents a 12.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 240,995 shares of company stock valued at $28,661,778. 0.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nextpower

Several institutional investors and hedge funds have recently modified their holdings of NXT. Smartleaf Asset Management LLC lifted its position in shares of Nextpower by 107.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the company's stock worth $26,000 after purchasing an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Nextpower by 268.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 306 shares of the company's stock worth $28,000 after purchasing an additional 223 shares during the period. Signature Equity Partners LLC lifted its position in shares of Nextpower by 76.4% in the 1st quarter. Signature Equity Partners LLC now owns 261 shares of the company's stock worth $31,000 after purchasing an additional 113 shares during the period. Huntington National Bank lifted its position in shares of Nextpower by 480.3% in the 4th quarter. Huntington National Bank now owns 383 shares of the company's stock worth $33,000 after purchasing an additional 317 shares during the period. Finally, Foster Dykema Cabot & Partners LLC purchased a new stake in shares of Nextpower in the 3rd quarter worth about $36,000. 67.41% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Nextpower

Here are the key news stories impacting Nextpower this week:

• Positive Sentiment: Nextpower announced a definitive agreement to acquire Prevalon Energy, expanding into battery energy storage and AI data center markets and raising its fiscal 2027 outlook. Article Title
• Positive Sentiment: Wells Fargo raised its price target on Nextpower to $151 and kept an overweight rating, signaling continued optimism despite the stock trading above that target. Article Title
• Positive Sentiment: Needham reaffirmed a buy rating on Nextpower, reinforcing the view that recent gains are supported by analyst confidence. Article Title
• Positive Sentiment: Recent bullish coverage and attention from investors suggest the stock is benefiting from momentum around its solar, storage, and AI-related growth story. Article Title

About Nextpower

Nextpower, formerly known as Nextracker, is traded on NASDAQ under the symbol NXT and is a leading provider of advanced solar tracking solutions for utility-scale and distributed energy projects. The company specializes in the design, engineering and manufacturing of single-axis tracker systems that optimize the capture of solar energy by following the sun’s trajectory throughout the day. Nextpower’s core hardware offerings aim to enhance energy yield, reduce balance-of-system costs and simplify installation and maintenance for downstream solar developers and operators.

In addition to its tracker hardware, Nextpower provides a suite of digital software and analytics tools to maximize asset performance.

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