SolarEdge Technologies (SEDG) Set to Announce Earnings on Wednesday

SolarEdge Technologies (NASDAQ:SEDG) will announce its earnings results 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.Investors that wish to register for the company’s conference call can do so using this link.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) 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 firm had revenue of $316.04 million for the quarter, compared to the consensus estimate 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 Stock Performance

Shares of NASDAQ SEDG opened at $58.65 on Wednesday. The business’s 50-day moving average price is $66.29 and its two-hundred day moving average price is $76.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.70 and a quick ratio of 2.08. SolarEdge Technologies has a one year low of $53.59 and a one year high of $315.34. The company has a market capitalization of $3.36 billion, a P/E ratio of 130.33 and a beta of 1.51.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada lowered their target price on SolarEdge Technologies from $85.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 21st. Piper Sandler lowered their target price on SolarEdge Technologies from $105.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. BMO Capital Markets lowered their target price on SolarEdge Technologies from $85.00 to $80.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 21st. DZ Bank assumed coverage on SolarEdge Technologies in a research note on Wednesday, April 17th. They set a “hold” rating and a $62.00 price target for the company. Finally, TD Cowen decreased their price target on SolarEdge Technologies from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.38.

Insider Buying and Selling at SolarEdge Technologies

In other news, Director More Avery purchased 7,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $67.75 per share, with a total value of $474,250.00. Following the acquisition, the director now directly owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.17% of the company’s stock.

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.