In a report released today, James Ricchiuti from Needham maintained a Hold rating on SolarEdge Technologies (SEDG). The company’s shares closed last Tuesday at $331.35, close to its 52-week high of $377.00.
According to TipRanks.com, Ricchiuti is a top 100 analyst with an average return of 26.4% and a 69.1% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies, Benchmark Electronics, and TTM Technologies.
Currently, the analyst consensus on SolarEdge Technologies is a Moderate Buy with an average price target of $325.85, a -3.5% downside from current levels. In a report released today, Goldman Sachs also maintained a Hold rating on the stock with a $355.00 price target.
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Based on SolarEdge Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $338 million and net profit of $43.75 million. In comparison, last year the company earned revenue of $411 million and had a net profit of $41.63 million.
Based on the recent corporate insider activity of 93 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.
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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. 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.