SolarEdge Technologies, Inc. (NASDAQ:SEDG) Stock Has Average Target Price of $39.20

SolarEdge Technologies, Inc. (NASDAQ:SEDG) has received an average recommendation of “Reduce” from the eighteen analysts that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $39.20.

Several analysts recently commented on SEDG shares. Mizuho lifted their target price on shares of SolarEdge Technologies from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 11th. Barclays lowered their price target on shares of SolarEdge Technologies from $53.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, August 6th. Royal Bank Of Canada raised their price objective on shares of SolarEdge Technologies from $24.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, September 11th. UBS Group upgraded SolarEdge Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $42.00 in a report on Wednesday, August 26th. Finally, The Goldman Sachs Group decreased their target price on SolarEdge Technologies from $34.00 to $30.00 and set a “sell” rating on the stock in a research report on Thursday, August 6th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in SolarEdge Technologies during the second quarter valued at approximately $76,095,000. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of SolarEdge Technologies in the 2nd quarter valued at $55,514,000. Meitav Investment House Ltd. boosted its holdings in shares of SolarEdge Technologies by 541.6% in the 1st quarter. Meitav Investment House Ltd. now owns 1,017,551 shares of the semiconductor company’s stock valued at $51,946,000 after purchasing an additional 858,954 shares in the last quarter. ING Groep NV bought a new position in shares of SolarEdge Technologies in the 4th quarter valued at $13,848,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of SolarEdge Technologies in the 1st quarter valued at $17,009,000. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Trading Down 4.3%

Shares of SolarEdge Technologies stock opened at $31.91 on Friday. The business has a fifty day simple moving average of $36.34 and a two-hundred day simple moving average of $46.13. SolarEdge Technologies has a 1 year low of $28.21 and a 1 year high of $81.25. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -7.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.03 and a quick ratio of 1.38.

SolarEdge Technologies (NASDAQ:SEDG) last released its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. SolarEdge Technologies had a negative net margin of 20.29% and a negative return on equity of 29.17%. The firm had revenue of $346.20 million for the quarter, compared to the consensus estimate of $341.15 million. During the same period in the previous year, the company earned ($0.81) earnings per share. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Research analysts forecast that SolarEdge Technologies will post -1.2 EPS for the current year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc develops smart energy technology for solar power generation, energy storage and energy management. The company is best known for its DC-optimized inverter system, which uses power optimizers attached to individual solar modules to improve energy harvesting and provide module-level monitoring. Its platform is designed to support residential, commercial and utility-scale photovoltaic installations.

The company’s product portfolio includes power optimizers, inverters, monitoring and management software, batteries and energy storage systems, and related solutions for backup power and electric vehicle charging.