SolarEdge Technologies (SEDG) Set to Announce Earnings on Wednesday

SolarEdge Technologies (NASDAQ:SEDG) is set to release its earnings data 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.Parties that wish to listen to the company’s conference call can do so using this link.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings results on Tuesday, February 20th. The semiconductor company reported ($1.41) earnings per share 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 analysts’ expectations 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 Trading Down 2.3 %

Shares of SEDG stock opened at $58.65 on Wednesday. SolarEdge Technologies has a fifty-two week low of $53.59 and a fifty-two week high of $315.34. The stock has a market cap of $3.36 billion, a P/E ratio of 130.33 and a beta of 1.51. The business has a fifty day simple moving average of $66.29 and a 200-day simple moving average of $76.46. The company has a quick ratio of 2.08, a current ratio of 3.70 and a debt-to-equity ratio of 0.28.

Insider Activity at SolarEdge Technologies

In related news, Director More Avery bought 7,000 shares of the company’s 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 acquisition, the director now owns 77,446 shares in the company, valued at approximately $5,246,966.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

SEDG has been the subject of a number of research analyst reports. Mizuho dropped their price target on SolarEdge Technologies from $106.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Scotiabank dropped their price target on SolarEdge Technologies from $93.00 to $90.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 21st. Canaccord Genuity Group reaffirmed a “hold” rating and set a $75.00 price objective on shares of SolarEdge Technologies in a research note on Wednesday, February 21st. Wells Fargo & Company decreased their price objective on SolarEdge Technologies from $91.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 22nd. Finally, Janney Montgomery Scott lowered SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.38.

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.