SolarEdge Technologies (SEDG) to Release Earnings on Wednesday

SolarEdge Technologies (NASDAQ:SEDG) is scheduled to be releasing its earnings data after the market closes on Wednesday, November 6th. Analysts expect SolarEdge Technologies to post earnings of ($1.55) per share for the quarter. SolarEdge Technologies has set its Q3 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.19). The firm had revenue of $265.41 million during the quarter, compared to the consensus estimate of $264.31 million. SolarEdge Technologies had a negative net margin of 33.86% and a negative return on equity of 18.00%. The business’s quarterly revenue was down 73.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.06 earnings per share. On average, analysts expect SolarEdge Technologies to post $-9 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

SolarEdge Technologies Stock Performance

Shares of SEDG opened at $16.77 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.45 and a current ratio of 5.10. The stock has a 50 day moving average price of $20.64 and a two-hundred day moving average price of $32.85. The firm has a market capitalization of $960.90 million, a P/E ratio of -3.61 and a beta of 1.56. SolarEdge Technologies has a 52 week low of $14.82 and a 52 week high of $103.15.

Analyst Ratings Changes

A number of analysts have commented on SEDG shares. Citigroup decreased their price objective on SolarEdge Technologies from $31.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Bank of America decreased their price objective on SolarEdge Technologies from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada cut their target price on SolarEdge Technologies from $35.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 15th. Wells Fargo & Company cut their target price on SolarEdge Technologies from $62.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group downgraded SolarEdge Technologies from a “hold” rating to an “underperform” rating and cut their target price for the stock from $27.00 to $17.00 in a research note on Tuesday, September 17th. Seven investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.52.

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.