Solaredge Technologies (NASDAQ:SEDG) Price Target Raised to $80.00

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Solaredge Technologies (NASDAQ:SEDG) had its target price boosted by research analysts at Credit Suisse Group from $70.00 to $80.00 in a report issued on Friday, September 20th, The Fly reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. Credit Suisse Group’s price objective suggests a potential downside of 10.06% from the stock’s current price.

SEDG has been the topic of a number of other research reports. Northland Securities set a $88.00 target price on shares of Solaredge Technologies and gave the company a “buy” rating in a research note on Sunday, September 15th. Canaccord Genuity lifted their target price on shares of Solaredge Technologies from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Oppenheimer lifted their target price on shares of Solaredge Technologies from $66.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Goldman Sachs Group raised shares of Solaredge Technologies from a “sell” rating to a “neutral” rating and lifted their target price for the company from $35.00 to $52.00 in a research note on Monday, June 17th. Finally, Cascend Securities reaffirmed a “buy” rating and set a $75.00 target price (up previously from $65.00) on shares of Solaredge Technologies in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $78.07.

Shares of Solaredge Technologies stock traded up $0.56 during trading on Friday, hitting $88.95. The company’s stock had a trading volume of 713,016 shares, compared to its average volume of 1,277,737. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.98. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $91.45. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 1.30 and a beta of 0.06. The stock has a 50-day moving average price of $82.64 and a two-hundred day moving average price of $62.94.

Solaredge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $325.00 million for the quarter, compared to analyst estimates of $315.53 million. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. Solaredge Technologies’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities analysts predict that Solaredge Technologies will post 2.99 EPS for the current fiscal year.

In related news, VP Zvi Lando sold 28,604 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.55, for a total transaction of $2,246,844.20. Following the completion of the transaction, the vice president now owns 101,313 shares in the company, valued at approximately $7,958,136.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Doron Inbar sold 20,000 shares of Solaredge Technologies stock in a transaction on Monday, August 12th. The shares were sold at an average price of $86.80, for a total value of $1,736,000.00. Following the sale, the director now directly owns 45,712 shares in the company, valued at approximately $3,967,801.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,599 shares of company stock valued at $20,141,696. Insiders own 7.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SEDG. Pathstone Family Office LLC purchased a new position in Solaredge Technologies in the second quarter worth $31,000. C M Bidwell & Associates Ltd. acquired a new position in Solaredge Technologies in the 2nd quarter valued at approximately $32,000. Westside Investment Management Inc. acquired a new position in Solaredge Technologies in the 2nd quarter valued at approximately $35,000. Gradient Investments LLC bought a new stake in shares of Solaredge Technologies in the 3rd quarter valued at approximately $42,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Solaredge Technologies in the 2nd quarter valued at approximately $69,000. 80.44% of the stock is currently owned by 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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