Solaredge Technologies Inc (SEDG) is Reiterated by Needham to Buy, Lowers Price Target to $ 28

Solaredge Technologies Inc (SEDG) was Reiterated by Needham to “Buy” while Lowering the Price Target of the company shares to $ 28 from a previous price target of $36 . Needham advised their investors in a research report released on Aug 10, 2016.

Many Wall Street Analysts have commented on Solaredge Technologies Inc. Shares were Reiterated by Barclays on Aug 10, 2016 to “Overweight” and Lowered the Price Target to $ 22 from a previous price target of $28 .

On the company’s financial health, Solaredge Technologies Inc reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.41. The company had revenue of $124.80 million for the quarter, compared to analysts expectations of $129.39 million. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Solaredge Technologies Inc opened for trading at $17.17 and hit $17.88 on the upside on Monday, eventually ending the session at $17.75, with a gain of 2.84% or 0.49 points. The heightened volatility saw the trading volume jump to 7,42,346 shares. Company has a market cap of $723 M.

In a different news, on Jun 6, 2016, Yoav Galin (VP, Research and Development) sold 1,626 shares at $21.37 per share price. According to the SEC, on May 17, 2016, Meir Adest (VP, Core Technologies) sold 260 shares at $18.13 per share price. On Mar 14, 2016, Ronen Faier (Chief Financial Officer) sold 6,587 shares at $27.64 per share price, according to the Form-4 filing with the securities and exchange commission.

Solaredge Technologies Inc (SolarEdge) is a provider of solar power harvesting and photovoltaic (PV) monitoring solutions. The Company’s portfolio of products includes power optimizers PV inverters and a Web portal for module-level monitoring and fault detection. Its SolarEdge power optimizer is a DC/DC converter which is connected by installers to each PV module or embedded by module manufacturers replacing the solar junction box. Its SolarEdge DC-AC PV inverter works with the SolarEdge power optimizers. Its SolarEdge PV Monitoring Portal is a Web-based application that provides module-level string-level and system-wide monitoring. The Company’s customers include providers of solar PV systems to residential and commercial end users such as SolarCity SunRun Inc. and Vivint Solar Inc.

Solaredge Technologies Inc

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