Needham Keeps a Buy Rating on Sunrun (RUN)

Needham analyst Vikram Bagri maintained a Buy rating on Sunrun (RUNResearch Report) today and set a price target of $42.00. The company’s shares closed last Wednesday at $30.74.

According to TipRanks.com, Bagri is a 1-star analyst with an average return of -5.0% and a 39.3% success rate. Bagri covers the Industrial Goods sector, focusing on stocks such as SolarEdge Technologies, Solid Power, and Beam Global.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sunrun with a $46.33 average price target, representing a 48.6% upside. In a report issued on July 20, Roth Capital also maintained a Buy rating on the stock with a $30.00 price target.

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Based on Sunrun’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $496 million and GAAP net loss of $87.78 million. In comparison, last year the company earned revenue of $335 million and had a GAAP net loss of $23.79 million.

Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RUN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

SunRun, Inc. engages in the design, development, installation, sale, ownership and maintenance of residential solar energy systems. It sells solar service offerings and install solar energy systems for homeowners through its direct-to-consumer channel. It also offers plans such as monthly lease, full amount lease, purchase system, and monthly loan. The company was founded by Edward H. Fenster, Robert N. Kreamer and Lynn M. Jurich in January 2007 and is headquartered in San Francisco, CA.

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