Canaccord Genuity restated their buy rating on shares of SolarEdge Technologies Inc. (NASDAQ:SEDG) in a research note released on Friday. Canaccord Genuity currently has a $27.00 target price on the stock.
SEDG has been the topic of a number of other reports. Needham & Company LLC decreased their price target on SolarEdge Technologies from $28.00 to $25.00 and set a buy rating on the stock in a research note on Wednesday, September 14th. Barclays PLC cut SolarEdge Technologies from an overweight rating to a neutral rating in a research note on Thursday, August 25th. JMP Securities initiated coverage on SolarEdge Technologies in a research note on Thursday, September 8th. They set an outperform rating and a $23.00 price target on the stock. JPMorgan Chase & Co. set a $31.00 price objective on SolarEdge Technologies and gave the company a buy rating in a research note on Wednesday, August 3rd. Finally, FBR & Co reiterated a buy rating and issued a $38.00 price objective on shares of SolarEdge Technologies in a research note on Thursday, June 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. SolarEdge Technologies presently has an average rating of Buy and a consensus price target of $26.27.
Shares of SolarEdge Technologies (NASDAQ:SEDG) opened at 16.25 on Friday. The company has a market capitalization of $664.59 million, a price-to-earnings ratio of 9.39 and a beta of -0.44. SolarEdge Technologies has a 52 week low of $14.41 and a 52 week high of $30.50. The company’s 50 day moving average price is $16.91 and its 200-day moving average price is $20.66.
SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. SolarEdge Technologies had a return on equity of 31.51% and a net margin of 15.64%. The company had revenue of $124.80 million for the quarter, compared to analysts’ expectations of $129.63 million. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue was up 26.8% compared to the same quarter last year. Analysts anticipate that SolarEdge Technologies will post $1.89 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of SolarEdge Technologies by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 13,615 shares of the company’s stock valued at $266,000 after buying an additional 528 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SolarEdge Technologies by 1.3% in the first quarter. Geode Capital Management LLC now owns 55,312 shares of the company’s stock valued at $1,390,000 after buying an additional 722 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of SolarEdge Technologies by 26.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,815 shares of the company’s stock valued at $171,000 after buying an additional 1,415 shares during the last quarter. State Street Corp raised its position in shares of SolarEdge Technologies by 21.1% in the first quarter. State Street Corp now owns 9,200 shares of the company’s stock valued at $231,000 after buying an additional 1,600 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of SolarEdge Technologies by 45.4% in the first quarter. IFP Advisors Inc now owns 5,396 shares of the company’s stock valued at $136,000 after buying an additional 1,686 shares during the last quarter. 60.46% of the stock is currently owned by institutional investors.
SolarEdge Technologies Company Profile
Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.
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