Analysts Set Solaredge Technologies Inc (NASDAQ:SEDG) Target Price at $86.83

Shares of Solaredge Technologies Inc (NASDAQ:SEDG) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $86.83.

A number of research analysts have commented on the company. Roth Capital reduced their price objective on Solaredge Technologies from $105.00 to $100.00 in a research note on Monday, November 25th. Needham & Company LLC assumed coverage on Solaredge Technologies in a research note on Monday, December 2nd. They set a “buy” rating and a $102.00 price objective on the stock. BidaskClub cut Solaredge Technologies from a “hold” rating to a “sell” rating in a research note on Thursday. Northland Securities assumed coverage on Solaredge Technologies in a research report on Tuesday, November 26th. They set a “buy” rating and a $102.00 target price on the stock. Finally, Canaccord Genuity lifted their target price on Solaredge Technologies from $78.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Shares of SEDG traded up $2.87 during midday trading on Monday, reaching $90.17. 1,221,421 shares of the company were exchanged, compared to its average volume of 1,040,086. The stock has a 50-day moving average price of $82.74 and a 200-day moving average price of $74.79. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 37.79, a P/E/G ratio of 1.26 and a beta of 0.02. Solaredge Technologies has a 1-year low of $32.42 and a 1-year high of $96.69. The company has a current ratio of 2.49, a quick ratio of 2.09 and a debt-to-equity ratio of 0.04.

Solaredge Technologies (NASDAQ:SEDG) last issued its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.22. The company had revenue of $410.56 million for the quarter, compared to analysts’ expectations of $402.89 million. Solaredge Technologies had a return on equity of 15.89% and a net margin of 8.39%. The firm’s quarterly revenue was up 73.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Equities research analysts anticipate that Solaredge Technologies will post 3 earnings per share for the current year.

In related news, VP Zvi Lando sold 28,604 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.55, for a total value of $2,246,844.20. Following the completion of the sale, the vice president now directly owns 101,313 shares of the company’s stock, valued at $7,958,136.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Rachel Prishkolnik sold 7,833 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $77.02, for a total value of $603,297.66. Following the completion of the sale, the vice president now directly owns 46,851 shares of the company’s stock, valued at $3,608,464.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,365 shares of company stock worth $8,271,394. Corporate insiders own 7.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. grew its holdings in shares of Solaredge Technologies by 376.7% during the third quarter. Winslow Evans & Crocker Inc. now owns 410 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 324 shares during the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Solaredge Technologies during the third quarter valued at approximately $38,000. Pathstone Family Office LLC bought a new position in shares of Solaredge Technologies during the second quarter valued at approximately $31,000. Gradient Investments LLC bought a new position in shares of Solaredge Technologies during the third quarter valued at approximately $42,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Solaredge Technologies during the second quarter valued at approximately $32,000. 81.49% of the stock is owned by hedge funds and other institutional investors.

Solaredge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations worldwide. Its SolarEdge system consists of power optimizers, inverters, communication and smart energy management solutions, and a cloud based monitoring platform.

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Analyst Recommendations for Solaredge Technologies (NASDAQ:SEDG)

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