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SolarEdge Technologies (SEDG) Stock Sinks As Market Gains: What You Should Know
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SolarEdge Technologies (SEDG - Free Report) ended the recent trading session at $48.75, demonstrating a -6.02% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.18%.
The stock of photovoltaic products maker has risen by 36.72% in the past month, leading the Oils-Energy sector's gain of 6.63% and the S&P 500's loss of 4.28%.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is predicted to post an EPS of -$0.24, indicating a 78.95% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $303.97 million, indicating a 38.49% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.25 per share and a revenue of $1.41 billion, demonstrating changes of +110.5% and +18.65%, respectively, from the preceding year.
Any recent changes to analyst estimates for SolarEdge Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.4% increase. At present, SolarEdge Technologies boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 204.75 right now. For comparison, its industry has an average Forward P/E of 17.34, which means SolarEdge Technologies is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 181, finds itself in the bottom 26% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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SolarEdge Technologies (SEDG) Stock Sinks As Market Gains: What You Should Know
SolarEdge Technologies (SEDG - Free Report) ended the recent trading session at $48.75, demonstrating a -6.02% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.11%. On the other hand, the Dow registered a loss of 0.13%, and the technology-centric Nasdaq increased by 0.18%.
The stock of photovoltaic products maker has risen by 36.72% in the past month, leading the Oils-Energy sector's gain of 6.63% and the S&P 500's loss of 4.28%.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is predicted to post an EPS of -$0.24, indicating a 78.95% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $303.97 million, indicating a 38.49% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.25 per share and a revenue of $1.41 billion, demonstrating changes of +110.5% and +18.65%, respectively, from the preceding year.
Any recent changes to analyst estimates for SolarEdge Technologies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 9.4% increase. At present, SolarEdge Technologies boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SolarEdge Technologies has a Forward P/E ratio of 204.75 right now. For comparison, its industry has an average Forward P/E of 17.34, which means SolarEdge Technologies is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 181, finds itself in the bottom 26% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.