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Here's Why SolarEdge Technologies (SEDG) Fell More Than Broader Market
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SolarEdge Technologies (SEDG - Free Report) ended the recent trading session at $35.06, demonstrating a -9.19% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 2.71%. Meanwhile, the Dow lost 1.9%, and the Nasdaq, a tech-heavy index, lost 3.56%.
The photovoltaic products maker's shares have seen an increase of 30.93% over the last month, surpassing the Oils-Energy sector's gain of 2.1% and the S&P 500's gain of 3.5%.
The investment community will be paying close attention to the earnings performance of SolarEdge Technologies in its upcoming release. It is anticipated that the company will report an EPS of -$0.43, marking a 97.2% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $333.46 million, indicating a 27.81% growth compared to the corresponding quarter of the prior year.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of -$2.97 per share and revenue of $1.16 billion. These results would represent year-over-year changes of +87.08% and +25.18%, respectively.
Any recent changes to analyst estimates for SolarEdge Technologies should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.19% higher. Currently, SolarEdge Technologies is carrying a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why SolarEdge Technologies (SEDG) Fell More Than Broader Market
SolarEdge Technologies (SEDG - Free Report) ended the recent trading session at $35.06, demonstrating a -9.19% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 2.71%. Meanwhile, the Dow lost 1.9%, and the Nasdaq, a tech-heavy index, lost 3.56%.
The photovoltaic products maker's shares have seen an increase of 30.93% over the last month, surpassing the Oils-Energy sector's gain of 2.1% and the S&P 500's gain of 3.5%.
The investment community will be paying close attention to the earnings performance of SolarEdge Technologies in its upcoming release. It is anticipated that the company will report an EPS of -$0.43, marking a 97.2% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $333.46 million, indicating a 27.81% growth compared to the corresponding quarter of the prior year.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of -$2.97 per share and revenue of $1.16 billion. These results would represent year-over-year changes of +87.08% and +25.18%, respectively.
Any recent changes to analyst estimates for SolarEdge Technologies should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.19% higher. Currently, SolarEdge Technologies is carrying a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 62, placing it within the top 26% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.