Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

SolarEdge Technologies Analysts Slash Their Forecasts Following Preliminary Q3 Results

SolarEdge Technologies Inc (NASDAQ: SEDG) reported weak preliminary third-quarter results.
byLisa Levin
October 20, 2023
1 minute read
Total
0
Shares
0
0
0
0
0
0

SolarEdge Technologies Inc (NASDAQ:SEDG) reported weak preliminary third-quarter results.

The company reduced its third-quarter revenue outlook to $720 million-$730 million vs. $880 million-$920 million earlier and a consensus of $909.02 million. Adjusted gross margin outlook is lowered to 20.1%-21.1% (from 28%- 31%) and adjusted operating income to $12 million to $31 million (from $115 million-$135 million earlier).

SolarEdge Technologies shares fell 28.9% to $81.04 in pre-market trading.

These analysts made changes to their price targets on SolarEdge Technologies following earnings announcement.

  • Deutsche Bank lowered the price target on SolarEdge Technologies from $300 to $150. Deutsche Bank analyst Corinne Blanchard downgraded the stock from Buy to Hold.
  • Roth MKM cut the price target on SolarEdge Technologies from $280 to $100. Roth MKM analyst Philip Shen downgraded the stock from Buy to Neutral.
  • Goldman Sachs slashed the price target on SolarEdge Technologies from $254 to $131. Goldman Sachs analyst Brian Lee downgraded the stock from Buy to Neutral.

Read More: Top 3 Materials Stocks You May Want To Dump This Month

 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Markforged Announces Ruling In Patent Infringement Lawsuit; U.S. District Court For The District Of Delaware Issued A Ruling Eliminating All Four Patents Originally Asserted By Continuous Composites Against Markforged In July 2021

By Happy Mohamed
April 4, 8:42 AM
Ruling eliminates all patent infringement claims made by Continuous Composites in its original July 2021 complaint Markforged (NYSE:MKFG) the company strengthening manufacturing resiliency by enabling industrial

MKFG

Read More

Brookfield Renewable Earnings Preview

By Benzinga Insights
August 4, 1:55 PM
Brookfield Renewable (NYSE:BEPC) is set to give its latest quarterly earnings report on Friday, 2022-08-05. Here's what investors need to know before the announcement. Analysts estimate that Brookfield Renewable will report an earnings per share (EPS) of $-0.04.

BEPC