SolarEdge Technologies (SEDG) Registers a Bigger Fall Than the Market: Important Facts to Note

In the latest close session, SolarEdge Technologies (SEDG) was down 1.04% at $40.11. This move lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 0.47%. Heading into today, shares of the photovoltaic products maker had gained 18.82% over the past month, outpacing the Oils-Energy sector's loss of 0.65% and the S&P 500's gain of 0.92%.The upcoming earnings release of SolarEdge Technologies will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.43, reflecting a 97.2% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $333.46 million, indicating a 27.81% upward movement from the same quarter last year. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.97 per share and revenue of $1.16 billion, indicating changes of +87.08% and +25.18%, respectively, compared to the previous year. It's also important for investors to be aware of any recent modifications to analyst estimates for SolarEdge Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.19% higher. SolarEdge Technologies is currently a Zacks Rank #3 (Hold). The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 45, placing it within the top 19% of over 250 industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely 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