We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SolarEdge Technologies (SEDG) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $323.61, marking a +1.31% move from the previous day. This move outpaced the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 2.13%.
Prior to today's trading, shares of the photovoltaic products maker had gained 11.89% over the past month. This has outpaced the Oils-Energy sector's gain of 2.43% and the S&P 500's gain of 7% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release, which is expected to be February 13, 2023. In that report, analysts expect SolarEdge Technologies to post earnings of $1.59 per share. This would mark year-over-year growth of 44.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $875.38 million, up 58.61% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.18% higher. SolarEdge Technologies is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 36.58. Its industry sports an average Forward P/E of 32.72, so we one might conclude that SolarEdge Technologies is trading at a premium comparatively.
We can also see that SEDG currently has a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SEDG in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
SolarEdge Technologies (SEDG) Gains As Market Dips: What You Should Know
In the latest trading session, SolarEdge Technologies (SEDG - Free Report) closed at $323.61, marking a +1.31% move from the previous day. This move outpaced the S&P 500's daily loss of 1.11%. Meanwhile, the Dow lost 0.61%, and the Nasdaq, a tech-heavy index, lost 2.13%.
Prior to today's trading, shares of the photovoltaic products maker had gained 11.89% over the past month. This has outpaced the Oils-Energy sector's gain of 2.43% and the S&P 500's gain of 7% in that time.
Investors will be hoping for strength from SolarEdge Technologies as it approaches its next earnings release, which is expected to be February 13, 2023. In that report, analysts expect SolarEdge Technologies to post earnings of $1.59 per share. This would mark year-over-year growth of 44.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $875.38 million, up 58.61% from the year-ago period.
It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.18% higher. SolarEdge Technologies is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, SolarEdge Technologies currently has a Forward P/E ratio of 36.58. Its industry sports an average Forward P/E of 32.72, so we one might conclude that SolarEdge Technologies is trading at a premium comparatively.
We can also see that SEDG currently has a PEG ratio of 1.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar was holding an average PEG ratio of 0.98 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SEDG in the coming trading sessions, be sure to utilize Zacks.com.