SolarEdge Technologies (SEDG) Beats Stock Market Upswing: What Investors Need to Know

In the latest trading session, SolarEdge Technologies (SEDG) closed at $23.98, marking a +2.92% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.94% for the day. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 1.52%. The photovoltaic products maker's stock has climbed by 5.81% in the past month, exceeding the Oils-Energy sector's gain of 4.54% and the S&P 500's gain of 1.67%.Analysts and investors alike will be keeping a close eye on the performance of SolarEdge Technologies in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.81, showcasing a 54.75% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $274.68 million, indicating a 3.5% increase compared to the same quarter of the previous year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$3.26 per share and a revenue of $1.1 billion, representing changes of +85.82% and +18.19%, respectively, from the prior year. Investors should also pay attention to any latest changes in analyst estimates for SolarEdge Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. Right now, SolarEdge Technologies possesses a Zacks Rank of #3 (Hold). The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 175, this industry ranks in the bottom 29% of all industries, numbering over 250. 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. Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant 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