Solaredge Technologies (NASDAQ:SEDG) posted its quarterly earnings results on Wednesday. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.22, Briefing.com reports. Solaredge Technologies had a net margin of 10.09% and a return on equity of 17.81%. The business had revenue of $410.56 million during the quarter, compared to analyst estimates of $402.89 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue was up 73.5% on a year-over-year basis.
SEDG stock traded down $1.95 during trading on Friday, reaching $77.95. The company had a trading volume of 1,466,765 shares, compared to its average volume of 899,116. Solaredge Technologies has a 52 week low of $32.42 and a 52 week high of $96.69. The business has a 50 day moving average of $86.37 and a 200 day moving average of $69.28. The company has a market cap of $3.99 billion, a P/E ratio of 28.98, a PEG ratio of 1.27 and a beta of 0.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.49 and a quick ratio of 1.98.
A number of research firms have recently weighed in on SEDG. Cowen set a $85.00 target price on shares of Solaredge Technologies and gave the stock a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered shares of Solaredge Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 9th. JMP Securities increased their target price on shares of Solaredge Technologies to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. ValuEngine lowered shares of Solaredge Technologies from a “hold” rating to a “sell” rating in a report on Friday. Finally, Northland Securities reiterated a “buy” rating on shares of Solaredge Technologies in a report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Solaredge Technologies currently has an average rating of “Buy” and an average price target of $85.75.
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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