SolarEdge Technologies Inc. (NASDAQ:SEDG)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report released on Thursday. They presently have a $22.00 price target on the stock, down from their prior price target of $25.00. Needham & Company LLC’s price objective would suggest a potential upside of 64.79% from the company’s previous close.

Several other equities analysts have also commented on SEDG. Roth Capital lowered SolarEdge Technologies from a “buy” rating to a “neutral” rating in a research report on Thursday. JMP Securities reaffirmed a “buy” rating on shares of SolarEdge Technologies in a research report on Friday, September 23rd. Goldman Sachs Group Inc. reaffirmed a “sell” rating and issued a $13.00 price target on shares of SolarEdge Technologies in a research report on Wednesday, October 26th. FBR & Co lowered SolarEdge Technologies from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $32.00 to $17.00 in a research report on Thursday. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $27.00 price target on shares of SolarEdge Technologies in a research report on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. SolarEdge Technologies presently has a consensus rating of “Hold” and a consensus price target of $22.18.

Analyst Recommendations for SolarEdge Technologies (NASDAQ:SEDG)

SolarEdge Technologies (NASDAQ:SEDG) opened at 13.35 on Thursday. SolarEdge Technologies has a 52-week low of $11.35 and a 52-week high of $30.50. The company has a market cap of $545.99 million, a price-to-earnings ratio of 7.02 and a beta of -0.22. The company’s 50-day moving average is $15.03 and its 200 day moving average is $18.25.

SolarEdge Technologies (NASDAQ:SEDG) last announced its quarterly earnings data on Wednesday, November 9th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. The business earned $128.50 million during the quarter, compared to analyst estimates of $132.28 million. SolarEdge Technologies had a return on equity of 29.93% and a net margin of 15.46%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. Equities analysts forecast that SolarEdge Technologies will post $1.59 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Guinness Asset Management Ltd increased its stake in SolarEdge Technologies by 42.1% in the second quarter. Guinness Asset Management Ltd now owns 8,100 shares of the company’s stock worth $159,000 after buying an additional 2,400 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in SolarEdge Technologies during the second quarter worth about $196,000. Raymond James & Associates purchased a new stake in SolarEdge Technologies during the second quarter worth about $207,000. Firsthand Capital Management Inc. purchased a new stake in SolarEdge Technologies during the second quarter worth about $216,000. Finally, Quotient Investors LLC purchased a new stake in SolarEdge Technologies during the second quarter worth about $220,000. Institutional investors and hedge funds own 61.07% of the company’s stock.

SolarEdge Technologies Company Profile

Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers, PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers, replacing the solar junction box.

5 Day Chart for NASDAQ:SEDG

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