SolarEdge Technologies (NASDAQ:SEDG) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

SolarEdge Technologies (NASDAQ:SEDG) had its price objective lowered by The Goldman Sachs Group from $29.00 to $25.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the semiconductor company’s stock.

A number of other analysts have also recently commented on the stock. TD Cowen lowered their price objective on shares of SolarEdge Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Susquehanna reduced their target price on SolarEdge Technologies from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday. BMO Capital Markets reduced their target price on SolarEdge Technologies from $31.00 to $28.00 and set an “underperform” rating on the stock in a report on Wednesday, October 21st. Weiss Ratings raised SolarEdge Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Finally, JPMorgan Chase & Co. lowered their price target on SolarEdge Technologies from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SolarEdge Technologies has a consensus rating of “Reduce” and an average target price of $37.27.

SolarEdge Technologies Stock Down 12.7%

SolarEdge Technologies stock opened at $26.20 on Thursday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -6.89 and a beta of 1.31. The company’s 50 day simple moving average is $32.77 and its 200 day simple moving average is $42.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.12 and a quick ratio of 1.38. SolarEdge Technologies has a fifty-two week low of $25.25 and a fifty-two week high of $81.25.

SolarEdge Technologies (NASDAQ:SEDG) last issued its earnings results on Wednesday, November 4th. The semiconductor company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.04 by $0.25. The firm had revenue of $325.40 million during the quarter, compared to the consensus estimate of $326.78 million. SolarEdge Technologies had a negative net margin of 17.34% and a negative return on equity of 19.80%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. As a group, sell-side analysts anticipate that SolarEdge Technologies will post -1.21 EPS for the current year.

Institutional Investors Weigh In On SolarEdge Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP bought a new position in shares of SolarEdge Technologies in the 2nd quarter valued at about $31,000. Nykredit A S acquired a new stake in shares of SolarEdge Technologies in the second quarter valued at about $36,000. State of Wyoming raised its holdings in SolarEdge Technologies by 32.9% during the first quarter. State of Wyoming now owns 1,237 shares of the semiconductor company’s stock worth $63,000 after acquiring an additional 306 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in SolarEdge Technologies during the second quarter worth about $72,000. Finally, Farther Finance Advisors LLC raised its holdings in SolarEdge Technologies by 18.7% during the third quarter. Farther Finance Advisors LLC now owns 3,045 shares of the semiconductor company’s stock worth $97,000 after acquiring an additional 479 shares in the last quarter. 95.10% of the stock is currently owned by institutional investors and hedge funds.

Key SolarEdge Technologies News

Here are the key news stories impacting SolarEdge Technologies this week:

• Positive Sentiment: SolarEdge reported third-quarter EPS of $0.29, beating the $0.04 consensus estimate, and returned to profitability. Gross margins improved and cash flow was positive. SolarEdge Q3 earnings and outlook
• Negative Sentiment: Revenue of $325.4 million slightly missed expectations and fell 4.2% year over year. Management cited ongoing market uncertainty and reduced fourth-quarter revenue expectations; weak demand is clouding the recovery outlook. SolarEdge: Weak Demand Clouds The Recovery
• Negative Sentiment: Goldman Sachs cut its target from $29 to $25 and maintained a “sell” rating; Citigroup lowered its target from $30 to $24 and also rates the shares “sell.” These calls reinforce concerns about near-term prospects. Goldman Sachs analyst recommendations Citigroup analyst recommendations
• Negative Sentiment: JPMorgan lowered its target from $38 to $31 and Susquehanna from $32 to $31, with both keeping “neutral” ratings. The target cuts add to the cautious analyst tone. JPMorgan analyst recommendations Susquehanna analyst recommendations

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc (NASDAQ: SEDG) develops technologies for solar energy generation, storage and management. Its core products include power optimizers, solar inverters and monitoring systems designed to improve the performance, visibility and safety of photovoltaic installations.

The company also offers complementary smart-energy solutions, including battery storage, electric-vehicle charging equipment, energy-management software and related products for residential, commercial and industrial customers.