Northland Capital Markets Reiterates Underperform Rating on SolarEdge Technologies (SEDG) After Guiding Above Consensus
- Wall Street extends rally as value stocks bounce
- China Tells Local Authorities to Prepare For a 'Possible Storm' and Prevent Unrest as Evergrande Crisis Unravels - WSJ
- Salesforce (CRM) Raises FY22 Revenue Guidance; Initiates FY23 Revenue
- Oil prices rise, hit 2-month highs on supply worries
- IDFA Seen as a 'Real Headwind' for Facebook (FB) but Analysts Remain Positive
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
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.
Shares of SolarEdge Technologies closed at $299.81 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Intesa-Sanpaolo SpA (ISP:IM) (ISNPY) PT Raised to EUR2.25 at Berenberg
- Kelt Exploration (KEL:CN) (KELTF) PT Raised to Cdn$6.75 at Stifel Canada
- Trimble (TRMB) Slips as Morgan Stanley Downgrades to Underweight
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!