SolarEdge Technologies (SEDG) Increases Despite Market Slip: Here's What You Need to Know

The latest trading session saw SolarEdge Technologies (SEDG) ending at $17.12, denoting a +0.82% adjustment from its last day's close. This change outpaced the S&P 500's 0.22% loss on the day. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.33%.The the stock of photovoltaic products maker has fallen by 13.5% in the past month, lagging the Oils-Energy sector's loss of 1.22% and the S&P 500's loss of 7.48%.Market participants will be closely following the financial results of SolarEdge Technologies in its upcoming release. The company's upcoming EPS is projected at -$1.26, signifying a 33.68% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $204.36 million, indicating a 0.02% decrease compared to the same quarter of the previous year.For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.06 per share and a revenue of $1.04 billion, signifying shifts of +86.69% and +11.97%, respectively, from the last year.It is also important to note the recent changes to analyst estimates for SolarEdge Technologies. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.5% lower within the past month. Currently, SolarEdge Technologies is carrying a Zacks Rank of #3 (Hold).The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% of all 250+ industries.The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks