SolarEdge Stock Is Spiraling Lower: What's Going On?
Portfolio Pulse from Adam Eckert
SolarEdge Technologies Inc (NASDAQ:SEDG) reported Q2 financial results, beating estimates on both revenue and EPS. However, the company issued weak Q3 guidance, leading to a drop in its share price and multiple analysts cutting their price targets. SolarEdge expects Q3 revenue to be between $880 million and $920 million, lower than estimates of $1.05 billion.
August 04, 2023 | 11:20 am
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SolarEdge's weak Q3 guidance and subsequent drop in share price may negatively impact the stock in the short term. Analysts have also cut their price targets for the company.
SolarEdge's weak Q3 guidance is lower than market estimates, which has led to a negative market reaction. This, coupled with analysts cutting their price targets, indicates a potential short-term negative impact on the stock.
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