Fintel reports that on July 14, 2023, Truist Securities maintained coverage of Solaredge Technologies (NASDAQ:SEDG) with a Buy recommendation.

Analyst Price Forecast Suggests 36.18% Upside

As of July 6, 2023, the average one-year price target for Solaredge Technologies is 370.42. The forecasts range from a low of 104.99 to a high of $467.25. The average price target represents an increase of 36.18% from its latest reported closing price of 272.01.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Solaredge Technologies is 4,101MM, an increase of 20.65%. The projected annual non-GAAP EPS is 8.57.

What is the Fund Sentiment?

There are 1346 funds or institutions reporting positions in Solaredge Technologies. This is an increase of 48 owner(s) or 3.70% in the last quarter. Average portfolio weight of all funds dedicated to SEDG is 0.45%, an increase of 4.29%. Total shares owned by institutions increased in the last three months by 1.03% to 52,162K shares. The put/call ratio of SEDG is 1.11, indicating a bearish outlook.

What are Other Shareholders Doing?

Jpmorgan Chase holds 1,548K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 1,771K shares, representing a decrease of 14.35%. The firm decreased its portfolio allocation in SEDG by 13.29% over the last quarter.

Invesco holds 1,378K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 1,431K shares, representing a decrease of 3.87%. The firm decreased its portfolio allocation in SEDG by 1.61% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 1,304K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 1,292K shares, representing an increase of 0.93%. The firm increased its portfolio allocation in SEDG by 0.44% over the last quarter.

ICLN - iShares Global Clean Energy ETF holds 1,247K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 1,091K shares, representing an increase of 12.55%. The firm increased its portfolio allocation in SEDG by 17.37% over the last quarter.

Pictet Asset Management holds 1,232K shares representing 2.19% ownership of the company. In it's prior filing, the firm reported owning 1,313K shares, representing a decrease of 6.59%. The firm decreased its portfolio allocation in SEDG by 12.92% over the last quarter.

Solaredge Technologies Background Information
(This description is provided by the company.)

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power lives aof people and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions.

Additional reading:

• INDEMNIFICATION AGREEMENT
• SOLAREDGE APPOINTS NEW DIRECTOR TO ITS BOARD
• CERTIFICATE OF AMENDMENT OF AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF SOLAREDGE TECHNOLOGIES, INC.
• RESTATED CERTIFICATE OF INCORPORATION SOLAREDGE TECHNOLOGIES, INC. (a Delaware corporation)
• SolarEdge Announces First Quarter 2023 Financial Results