SolarEdge Technologies (SEDG) closed the most recent trading day at $16.83, moving +0.87% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.67%. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, added 0.87%.
Prior to today's trading, shares of the photovoltaic products maker had gained 12.43% over the past month. This has outpaced the Oils-Energy sector's gain of 3.06% and the S&P 500's loss of 5.28% in that time.
The investment community will be closely monitoring the performance of SolarEdge Technologies in its forthcoming earnings report. The company is predicted to post an EPS of -$1.26, indicating a 33.68% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $204.36 million, reflecting a 0.02% fall from the equivalent quarter last year.
SEDG's full-year Zacks Consensus Estimates are calling for earnings of -$3.07 per share and revenue of $1.04 billion. These results would represent year-over-year changes of +86.65% and +11.97%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.22% downward. Currently, SolarEdge Technologies is carrying a Zacks Rank of #3 (Hold).
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 34% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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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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