Why SolarEdge Stock Is Down After Earnings
Portfolio Pulse from Erica Kollmann
SolarEdge Technologies, Inc. (NASDAQ:SEDG) reported mixed Q4 financial results with a loss of 92 cents per share, beating analyst estimates but missing on quarterly sales with $316 million versus the expected $323.3 million. The company also issued weak Q1 guidance, projecting revenues significantly below consensus estimates. Despite this, analysts have a range of price targets on SEDG, with an average 12-month target of $82.65. Shares are currently down 15.8% at $71.04.
February 21, 2024 | 3:12 pm
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SolarEdge reported mixed Q4 results and weak Q1 guidance, with shares down 15.8% at $71.04. Analysts maintain a range of price targets, suggesting potential upside.
The mixed Q4 results and particularly the weak Q1 guidance are likely to negatively impact investor sentiment in the short term, despite the average analyst price target suggesting potential upside. The significant drop in share price following the earnings report indicates a negative short-term impact.
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