SolarEdge Technologies (SEDG) Receives a Buy from J.P. Morgan
In a report released yesterday, Mark Strouse from J.P. Morgan maintained a Buy rating on SolarEdge Technologies (SEDG), with a price target of $100. The company’s shares closed last Monday at $87.78, close to its 52-week high of $89.43.
Strouse has an average return of 55.3% when recommending SolarEdge Technologies.
According to TipRanks.com, Strouse is ranked #1056 out of 5239 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SolarEdge Technologies with a $80.38 average price target, implying a -7.4% downside from current levels. In a report issued on July 31, JMP Securities also maintained a Buy rating on the stock with a $78 price target.
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Based on SolarEdge Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $33.13 million. In comparison, last year the company had a net profit of $34.57 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock.
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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.