SolarEdge Technologies (SEDG) to Release Earnings on Wednesday

SolarEdge Technologies (NASDAQ:SEDG) is set to post its quarterly earnings results 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 are interested in participating in the company’s earnings conference call can do so using this link.

SolarEdge Technologies (NASDAQ:SEDG) last posted its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.60. SolarEdge Technologies had a return on equity of 5.00% and a net margin of 1.15%. The business had revenue of $316.04 million during the quarter, compared to analyst estimates of $319.97 million. 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 Price Performance

SEDG stock opened at $60.45 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.08 and a current ratio of 3.70. SolarEdge Technologies has a 1 year low of $53.59 and a 1 year high of $315.34. The firm has a market cap of $3.46 billion, a P/E ratio of 134.33 and a beta of 1.53. The stock has a 50-day simple moving average of $65.11 and a 200-day simple moving average of $74.67.

Insider Transactions at SolarEdge Technologies

In other news, Director More Avery bought 7,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of $67.75 per share, for a total transaction of $474,250.00. Following the completion of the acquisition, the director now owns 77,446 shares in the company, valued at $5,246,966.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SEDG. Canaccord Genuity Group assumed coverage on SolarEdge Technologies in a report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price target on the stock. DZ Bank began coverage on SolarEdge Technologies in a research report on Wednesday, April 17th. They issued a “hold” rating and a $62.00 price target on the stock. Mizuho decreased their price target on shares of SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. TD Cowen lowered their price objective on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group cut their target price on SolarEdge Technologies from $83.00 to $71.00 and set a “sell” rating for the company in a research report on Wednesday, January 24th. 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 company. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Hold” and a consensus target price of $98.38.

SolarEdge Technologies Company Profile

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.