In a report released today, Gus Richard from Northland Securities maintained a Hold rating on SolarEdge Technologies (SEDG), with a price target of $88.00. The company’s shares closed last Wednesday at $125.75.
According to TipRanks.com, Richard is a 5-star analyst with an average return of 19.8% and a 64.6% success rate. Richard covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Power Integrations, and Enphase Energy.
Currently, the analyst consensus on SolarEdge Technologies is a Moderate Buy with an average price target of $126.73, which is an 11.8% upside from current levels. In a report issued on May 1, Barclays also maintained a Hold rating on the stock with a $122.00 price target.
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Based on SolarEdge Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $418 million and net profit of $52.78 million. In comparison, last year the company earned revenue of $264 million and had a net profit of $12.94 million.
Based on the recent corporate insider activity of 111 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SEDG in relation to earlier this year. Most recently, in March 2020, Doron Inbar, a Director at SEDG sold 11,667 shares for a total of $1,596,629.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
SolarEdge Technologies, Inc. engages in the operation of inverter solution for the harvesting and managing of photovoltaic solar power. The company’s products include power optimizer, inverter and monitoring portal. It offers residential solutions, commercial solutions, and grid services. The company was founded by Guy Sella, Lior Handelsman, Yoav Galin, Meir Adest and Amir Fishelov in 2006 and is headquartered in Hod HaSharon, Israel.
