Northland Capital Markets Reiterates Underperform Rating on SolarEdge Technologies (SEDG) After Guiding Above Consensus

August 4, 2021 6:24 AM EDT
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Price: $286.39 +1.56%

Rating Summary:
    17 Buy, 6 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 13 | New: 52
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Northland Capital Markets analyst Gus Richard reiterated an Underperform rating and $210.00 price target on SolarEdge Technologies (NASDAQ: SEDG) after the company reported a strong quarter and guided above consensus.

The analyst stated "SEDG gained share in the quarter due to tight inventory at ENPH, in our view. While channel inventory is lean, due to supply constraints some of the demand may be double ordering from installers. SEDG is trading at 44x CY21 consensus and 50x our CY21 estimate. SEDG has a mid-30s GM and an estimated 2017-2021 CAGR is 16% and in our view shouldn’t trade at 44x".
CY22 consensus and 50x our CY22 estimate.

For an analyst ratings summary and ratings history on SolarEdge Technologies click here. For more ratings news on SolarEdge Technologies click here.

Shares of SolarEdge Technologies closed at $299.81 yesterday.

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