Nextpower (NASDAQ:NXT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised its price target on Nextpower from $143 to $151 and kept an overweight rating, signaling continued bullish sentiment despite the stock already trading near that level.
• Other analysts have also turned more positive on the stock, with multiple firms lifting targets and ratings; overall, Nextpower now has a Moderate Buy consensus and an average price target of $141.01.
• Nextpower posted a strong quarter, beating expectations with $1.05 EPS and $880.52 million in revenue, while the stock recently traded at $155.82, near its 52-week high of $163.13.

Nextpower (NASDAQ:NXT - Get Free Report) had its target price upped by stock analysts at Wells Fargo & Company from $143.00 to $151.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential downside of 3.09% from the stock's previous close.

Several other analysts have also weighed in on NXT. BMO Capital Markets raised their price objective on shares of Nextpower from $113.00 to $125.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Nextpower from $125.00 to $155.00 and gave the company an "overweight" rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Nextpower from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 20th. BNP Paribas Exane raised their price target on shares of Nextpower from $145.00 to $177.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $140.00 target price on shares of Nextpower and gave the stock a "buy" rating in a report on Tuesday, April 14th. Twenty research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.01.

Nextpower Price Performance

Shares of NASDAQ NXT traded up $18.65 during mid-day trading on Friday, hitting $155.82. The company had a trading volume of 1,592,798 shares, compared to its average volume of 2,060,753. The business's 50-day simple moving average is $121.07 and its 200-day simple moving average is $108.11. Nextpower has a 12 month low of $51.69 and a 12 month high of $163.13. The firm has a market cap of $23.14 billion, a P/E ratio of 40.60, a PEG ratio of 3.34 and a beta of 1.60.

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

Insider Activity

In related news, CEO Daniel S. Shugar sold 59,456 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $105.17, for a total value of $6,252,987.52. Following the completion of the transaction, the chief executive officer directly owned 746,339 shares of the company's stock, valued at approximately $78,492,472.63. This represents a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Howard Wenger sold 62,670 shares of Nextpower stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 owned 426,467 shares in the company, valued at $55,547,326.75. This trade 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. Insiders sold 240,995 shares of company stock worth $28,661,778 over the last quarter. Corporate insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Nextpower

A number of institutional investors and hedge funds have recently modified their holdings of NXT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Nextpower by 19.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 437,490 shares of the company's stock valued at $18,436,000 after acquiring an additional 71,842 shares during the period. M&T Bank Corp acquired a new stake in Nextpower in the second quarter valued at approximately $223,000. EverSource Wealth Advisors LLC boosted its position in Nextpower by 179.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,127 shares of the company's stock valued at $61,000 after buying an additional 724 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Nextpower by 154.0% in the second quarter. Cerity Partners LLC now owns 18,539 shares of the company's stock valued at $1,008,000 after buying an additional 11,239 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Nextpower by 36.5% during the second quarter. California Public Employees Retirement System now owns 222,960 shares of the company's stock worth $12,122,000 after purchasing an additional 59,573 shares during the period. 67.41% of the stock is owned by institutional investors.

Nextpower Company Profile

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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