SolarEdge Technologies (SEDG) Rises As Market Takes a Dip: Key Facts

In the latest market close, SolarEdge Technologies (SEDG) reached $13.60, with a +0.22% movement compared to the previous day. This change outpaced the S&P 500's 0.43% loss on the day. Meanwhile, the Dow lost 0.07%, and the Nasdaq, a tech-heavy index, lost 0.9%.The photovoltaic products maker's shares have seen a decrease of 14.6% over the last month, not keeping up with the Oils-Energy sector's loss of 8.37% and the S&P 500's loss of 1.98%.The investment community will be paying close attention to the earnings performance of SolarEdge Technologies in its upcoming release. The company is forecasted to report an EPS of -$1.75, showcasing a 90.22% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $185.58 million, reflecting a 41.28% fall from the equivalent quarter last year.SEDG's full-year Zacks Consensus Estimates are calling for earnings of -$19.09 per share and revenue of $948.11 million. These results would represent year-over-year changes of -563.35% and -68.15%, respectively.Investors should also pay attention to any latest changes in analyst estimates for SolarEdge Technologies. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.92% lower. Currently, SolarEdge Technologies is carrying a Zacks Rank of #3 (Hold).The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 58, this industry ranks in the top 24% of all industries, numbering over 250.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks