Yahoo Finance SolarEdge Technologies (SEDG) Outpaces Stock Market Gains: What You Should Know
SolarEdge Technologies (SEDG) closed the most recent trading day at $25.27, moving +1.12% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.09% for the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.3%.
Shares of the photovoltaic products maker witnessed a loss of 48.54% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 1.6% and the S&P 500's gain of 3.38%.
The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. It is anticipated that the company will report an EPS of -$1.56, marking a 159.54% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $263.82 million, indicating a 73.39% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$4.16 per share and a revenue of $1.36 billion, representing changes of -200.97% and -54.16%, respectively, from the prior year.
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, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.66% lower. At present, SolarEdge Technologies boasts a Zacks Rank of #4 (Sell).
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 9% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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SolarEdge Technologies, Inc. (SEDG) : Free Stock Analysis Report
