By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Markets > Stocks > Wall Street analysts positive on SolarEdge Technologies following earnings beat
Stocks

Wall Street analysts positive on SolarEdge Technologies following earnings beat

News Room
Last updated: 2023/05/07 at 2:37 AM
By News Room
Share
2 Min Read
SHARE

© Reuters. Wall Street analysts positive on SolarEdge Technologies (SEDG) following earnings beat

SolarEdge Technologies (NASDAQ:) shares jumped more than 8% Thursday on the back of its latest earnings release, which saw it beat top and bottom line estimates.

The company reported Q1 of $2.90, $0.96 better than the analyst estimate of $1.94, while revenue for the quarter came in at $943.9 million versus the consensus estimate of $932.83 million.

Shares of SolarEdge are currently trading at just under $287.

Reacting to the report, BMO Capital analysts raised the firm’s price target on the stock to $395 from $370, maintaining an Outperform rating on the stock. They said the company is “well-positioned.”

“SEDG is starting off 2023 on much stronger footing compared to last year. Company’s large international footprint, customer segment diversification, and cost tailwinds (better FX rates and lower shipping costs) all on display during its 1Q earnings call,” analysts wrote. “1Q gross and operating margins are now up nearly 600 bps and 700 bps, respectively, from 2022 lows as the company is back on track with its LT financial targets at a much faster pace than most expected. Second quarter guidance implies even more sequential improvement.”

At Morgan Stanley, analysts said SEDG’s results were driven by continued momentum in Europe.

“SEDG reported $944m of revenue in 1Q, +1% above consensus of $934m, and slightly below the top end of its guidance range of $915m-$945m. The solar segment generated $908.5m (vs. the guided range of $875-$905m and MSe of $888.8m). Strong 1Q solar segment results was driven by 102% Y/Y revenue growth in Europe, partially offset by a 4% Y/Y decrease in the US,” wrote analysts.

Elsewhere on Thursday, JPMorgan, Oppenheimer, BMO Capital, and Goldman Sachs all raised their price targets on SEDG shares.

Read the full article here

News Room May 7, 2023 May 7, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Energy prices push chemicals groups to explore exit from Europe

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Why can’t more financial heavyweights write letters like Warren Buffett?

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Latin America wary of US trade backlash as it builds relations with China

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Insurers launch cover for losses caused by AI chatbot errors

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT…

Transatlantic antitrust ties fray as US and EU regulators squabble

US and European antitrust enforcers used to work so closely that Jonathan…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

CPS reports solid 2023 performance, eyes future growth By Investing.com

By News Room
Stocks

Niu Technologies faces mixed results in Q4 2023 By Investing.com

By News Room
Stocks

Exagen Inc. reports strong 2023 revenue growth By Investing.com

By News Room
Stocks

Legacy Housing reports mixed results amid sales decline By Investing.com

By News Room
Stocks

Harmony Biosciences exec sells over $383k in stock By Investing.com

By News Room
Stocks

Biofrontera posts record revenue and outlines growth plans By Investing.com

By News Room
Stocks

Granite Ridge CFO buys $31,000 in company stock By Investing.com

By News Room
Stocks

Coliseum Capital Management buys MasterCraft Boat shares worth over $3.2m By Investing.com

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?