In today’s recent session, 0.82 million shares of the Solaredge Technologies Inc (NASDAQ:SEDG) have been traded, and its beta is 1.54. Most recently the company’s share price was $54.07, and it changed around -$1.73 or -3.10% from the last close, which brings the market valuation of the company to $3.09B. SEDG at last check was trading at a discount to its 52-week high of $321.61, offering almost -494.8% off that amount. The share price’s 52-week low was $55.37, which indicates that the recent value has fallen by an impressive -2.4% since then. We note from Solaredge Technologies Inc’s average daily trading volume that its 3-month average coming to 2.31 million.
Solaredge Technologies Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.92. If we narrow it down even further, the data shows that 1 out of 10 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended SEDG as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Solaredge Technologies Inc is expected to report earnings per share of -$1.58 for the current quarter.
Solaredge Technologies Inc (NASDAQ:SEDG) trade information
Instantly SEDG has been showing red trend so far today with a performance of -3.10% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -42.23% year-to-date, but still down -10.54% over the last five days. On the other hand, Solaredge Technologies Inc (NASDAQ:SEDG) is -18.97% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $279.25, which translates to bulls needing to increase their stock price by 80.64% from its current value. Analyst projections state that SEDG is forecast to be at a low of $74 and a high of $490.
Solaredge Technologies Inc (SEDG) estimates and forecasts
Solaredge Technologies Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -52.56 percent over the past six months and at a -148.54% annual growth rate that is well below the industry average of -9.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -154.50% in revenue this quarter, and will report a decrease of -137.80% in the next quarter. The year-over-year growth rate is expected to be -49.40%, down from the previous year.
Consensus estimates provided by 23 financial analysts predict the company will bring in an average of $195.73 million in revenue for the current quarter. 23 analysts expect Solaredge Technologies Inc to make $308.77 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $943.89 million and -$ respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -79.30%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -25.90%. Solaredge Technologies Inc earnings are expected to increase by -157.31% in 2024, but the outlook is positive 2.83% per year for the next five years.
