SolarEdge Technologies (SEDG) ended the recent trading session at $27.57, demonstrating a +1.77% change from the preceding day's closing price. This change outpaced the S&P 500's 0.28% gain on the day. Meanwhile, the Dow gained 0.43%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the photovoltaic products maker had gained 30.05% outpaced the Oils-Energy sector's gain of 4.96% and the S&P 500's gain of 4.37%.
Investors will be eagerly watching for the performance of SolarEdge Technologies in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.81, marking a 54.75% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $274.47 million, up 3.42% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.25 per share and revenue of $1.09 billion, indicating changes of +85.86% and +17.55%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for SolarEdge Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% higher. SolarEdge Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 51, placing it within the top 21% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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