SolarEdge Technologies Inc Shares Surpass Analyst Target Price
Recently, shares of SolarEdge Technologies Inc (Symbol: SEDG) have climbed above the average analyst 12-month target price of $16.26, trading at $18.29 per share. When a stock reaches its analyst-set target, analysts typically have two options: downgrade their assessment based on valuation or adjust their target price upward. Their reaction may also hinge on recent developments within the company that contribute to the stock’s price increase. If prospects appear favorable, it could warrant a higher target price.
Within the Zacks coverage universe, there are 25 different analyst targets supporting the average for SolarEdge Technologies Inc. While the average serves as a general indicator, it is essential to note that individual forecasts can vary significantly. For instance, some analysts have set lower targets—one as low as $5.00—while another anticipates a target as high as $38.00. The standard deviation of these predictions is $7.084, indicating a diverse range of opinions.
The reason for examining the average price target is to benefit from a “wisdom of crowds” approach. This method synthesizes insights from various analysts, rather than relying solely on one expert’s opinion. With SEDG now exceeding the average target price of $16.26 per share, investors are prompted to evaluate whether this is merely a stepping stone towards even higher targets or if the current valuation has become too stretched, warranting a reevaluation of their positions. Below is a table detailing the latest analyst ratings for SolarEdge Technologies Inc:
| Recent SEDG Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 3 | 3 | 3 | 3 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 18 | 19 | 19 | 22 |
| Sell ratings: | 2 | 2 | 2 | 2 |
| Strong sell ratings: | 6 | 6 | 6 | 4 |
| Average rating: | 3.25 | 3.24 | 3.24 | 3.11 |
The average rating is on a scale from 1 to 5, where 1 indicates a Strong Buy and 5 signifies a Strong Sell. The data presented in this article is from Zacks Investment Research via Quandl.com.
The views and opinions expressed herein are those of the author and do not necessarily reflect any broader organizational views.
