tiprankstipranks
SolarEdge Technologies Shares (NASDAQ:SEDG) Rally after Revenue and Guidance Beat
Market News

SolarEdge Technologies Shares (NASDAQ:SEDG) Rally after Revenue and Guidance Beat

Shares of SolarEdge Technologies (NASDAQ:SEDG) are up in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2022. Earnings per share came in at $0.91, which missed analysts’ consensus estimate of $1.47 per share.

However, sales increased by 58.9% year-over-year, with revenue hitting $836.7. This beat analysts’ expectations of $824.4 billion.

Looking forward, management expects revenue and adjusted operating profit for Q4 2022 to be in the ranges of $855 million to $885 million and $115 million to $135 million, respectively. For reference, analysts were expecting $855.2 million in revenue for Q4.

Is SEDG a Good Stock to Buy?

SEDG has a Strong Buy consensus rating based on five Buys, one Hold, and zero Sells assigned in the past three months. The average SEDG stock price target of $347.50 implies 64.46% upside potential.

Disclosure

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles