SolarEdge Technologies (SEDG) to Release Earnings on Wednesday

SolarEdge Technologies (NASDAQ:SEDG) will be issuing its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($1.59) per share for the quarter. SolarEdge Technologies has set its Q1 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results 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 firm had revenue of $316.04 million for the quarter, compared to analysts’ expectations of $319.97 million. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. 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

SEDG stock opened at $60.45 on Monday. SolarEdge Technologies has a 12-month low of $53.59 and a 12-month high of $315.34. The stock’s 50 day simple moving average is $65.11 and its 200 day simple moving average is $74.67. The company has a current ratio of 3.70, a quick ratio of 2.08 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.46 billion, a PE ratio of 134.33 and a beta of 1.53.

Analysts Set New Price Targets

A number of research firms have commented on SEDG. B. Riley decreased their target price on shares of SolarEdge Technologies from $133.00 to $124.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. DZ Bank initiated coverage on shares of SolarEdge Technologies in a report on Wednesday, April 17th. They issued a “hold” rating and a $62.00 target price for the company. Barclays increased their price target on SolarEdge Technologies from $50.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lowered their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada cut their target price on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.38.

Insider Activity at SolarEdge Technologies

In other SolarEdge Technologies news, Director More Avery bought 7,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was bought at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the purchase, the director now directly owns 77,446 shares of the company’s stock, valued at $5,246,966.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.17% of the company’s stock.

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.