Solaredge Technologies Inc [SEDG] stock is trading at $72.09, up 7.68%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The SEDG shares have gain 7.77% over the last week, with a monthly amount drifted -4.79%, and not seem to be holding up well over a long-time horizon.
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On 4, April 2024, SolarEdge Acquires Wevo Energy, EV Charging Optimization and Management Software Startup. In a post published today on Yahoo Finance, SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, today announced that it completed the acquisition of the entire share capital of Wevo Energy Ltd. (“Wevo”). Wevo is a software startup specializing in EV charging optimization and management for sites with large quantities of EV chargers such as apartment buildings, workplace carparks and public charging locations.
From an analyst’s perspective:
Solaredge Technologies Inc [NASDAQ: SEDG] stock has seen the most recent analyst activity on March 22, 2024, when Janney downgraded its rating to a Neutral. Previously, TD Cowen reaffirmed its Outperform rating on February 21, 2024, and dropped its price target to $100. On February 14, 2024, RBC Capital Mkts initiated with a Sector Perform rating and assigned a price target of $85 on the stock. Barclays downgraded its rating to a Underweight and decreased its price target to $50 on January 17, 2024. Canaccord Genuity initiated its recommendation with a Hold and recommended $80 as its price target on January 16, 2024. Piper Sandler downgraded its rating to Neutral for this stock on December 19, 2023, and downed its price target to $105. In a note dated December 18, 2023, Goldman downgraded an Sell rating on this stock but restated the target price of $77.
Solaredge Technologies Inc [SEDG] stock has fluctuated between $60.44 and $322.19 over the past year. Currently, Wall Street analysts expect the stock to reach $288.17 within the next 12 months. Solaredge Technologies Inc [NASDAQ: SEDG] shares were valued at $72.09 at the most recent close of the market. An investor can expect a potential return of 299.74% based on the average SEDG price forecast.
Analyzing the SEDG fundamentals
Solaredge Technologies Inc [NASDAQ:SEDG] reported sales of 2.98B for the trailing twelve months, which represents a drop of -64.52%. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at 0.01%, Pretax Profit Margin comes in at 0.03%, and Net Profit Margin reading is 0.01%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.01 and Total Capital is 0.01. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.3.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 69.22 points at the first support level, and at 66.35 for the second support level. However, for the 1st resistance point, the stock is sitting at 73.54, and for the 2nd resistance point, it is at 74.99.
Solaredge Technologies Inc [SEDG] reported earnings per share of -$0.92 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$1.33/share, meaning a difference of $0.41 and a surprise factor of 30.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.55 per share as compared to estimates of $0.89 per share, a difference of -$1.44 representing a surprise of -161.80%.
Ratios To Look Out For
For context, Solaredge Technologies Inc’s Current Ratio is 3.70. Further, the Quick Ratio stands at 2.08, while the Cash Ratio is 0.38. Considering the valuation of this stock, the price to sales ratio is 1.38, the price to book ratio is 1.71 and price to earnings (TTM) ratio is 162.77.
Transactions by insiders
Recent insider trading involved AVERY MORE, Director, that happened on Feb 29 ’24 when 7000.0 shares were purchased. Director, AVERY MORE completed a deal on Nov 09 ’23 to buy 15300.0 shares. Meanwhile, Director GANI MARCEL bought 5000.0 shares on Nov 09 ’23.
