Analysts Recommend ‘Hold’ on SolarEdge Technologies Stock

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SOLAREDGE ($NASDAQ:SEDG): SolarEdge Technologies, Inc. is a leading global provider of smart energy solutions that enable self-consumption, energy independence, and the transition to a distributed and decarbonized electricity system. Recently, analysts have taken a closer look at the company’s stock and have given SolarEdge Technologies a consensus recommendation of “Hold”. The decision to “Hold” on SolarEdge Technologies stock is based on both short-term and long-term outlooks. In the short-term, the stock price has been relatively flat due to the current market conditions and the uncertainty of global economies.

On the other hand, in the long-term, analysts expect SolarEdge Technologies to benefit from their wide range of innovative products that are helping to reduce emissions and lower electricity bills. Analysts have also mentioned the company’s robust balance sheet and strong cash flow as key factors in their decision to recommend a “Hold” on SolarEdge Technologies stock. As a result, investors should be encouraged to maintain their current holdings in SolarEdge Technologies while taking advantage of any near-term price dips in order to maximize their returns over the long-term.

Stock Price

Analysts have recommended a ‘Hold’ rating on SolarEdge Technologies stock following the opening of the stock on Tuesday. The stock opened at $93.0 and closed at $91.7, down by 2.0% from its prior closing of 93.6. This marks the fourth consecutive day that the stock has seen a decrease in price, signaling to analysts that the stock is not an ideal investment at this time. Despite its previous successes and innovative technology, analysts advise that it is best to wait for a more opportune time to buy SolarEdge Technologies stock. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Solaredge Technologies. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Solaredge Technologies. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Solaredge Technologies. More…

Key Ratios Snapshot

Some of the financial key ratios for Solaredge Technologies are shown below. More…

Analysis

GoodWhale has conducted a fundamental analysis of SOLAREDGE TECHNOLOGIES and based on its Star Chart classification as a ‘gorilla’ company, we have concluded that they have achieved stable and high revenue or earning growth due to their strong competitive advantage. This type of company may be of interest to investors looking for long-term growth opportunities. SOLAREDGE TECHNOLOGIES is strong in terms of assets, growth, and profitability, but weak in terms of dividends. Their health score of 8/10 with regard to cashflows and debt shows that they are capable of paying off their debt and funding future operations. All of these factors taken together make SOLAREDGE TECHNOLOGIES an attractive choice for investors looking for long-term growth potential. More…

Peers

In the solar energy industry, there is intense competition between SolarEdge Technologies Inc and its main competitors United Renewable Energy Co Ltd, Folkup Development Inc, and Tainergy Tech Co Ltd. All four companies are striving to be the leading provider of solar energy solutions and each has its own unique strengths and weaknesses. SolarEdge Technologies Inc has a strong focus on innovation and has developed several industry-leading products, while United Renewable Energy Co Ltd has a large customer base and a strong financial position. Folkup Development Inc has a strong research and development team, while Tainergy Tech Co Ltd has a large manufacturing capacity.

– United Renewable Energy Co Ltd ($TWSE:3576)

As of 2022, United Renewable Energy Co Ltd has a market cap of 34.73B and a Return on Equity of 2.02%. The company is engaged in the business of developing, manufacturing and marketing of solar photovoltaic products. It also provides engineering, procurement and construction services for solar power projects.

– Folkup Development Inc ($OTCPK:FLDI)

Folkup Development Inc is a publicly traded company with a market capitalization of $49 million as of 2022. The company has a return on equity of 40.0%, indicating that it is a profitable company that is generate shareholder value. Folkup Development Inc is engaged in the business of real estate development and management. The company has a portfolio of properties in the United States and Canada.

– Tainergy Tech Co Ltd ($TWSE:4934)

Tainergy Tech Co Ltd is a Taiwanese company that manufactures lithium batteries and energy storage systems. The company has a market cap of 5.65 billion as of 2022 and a return on equity of -26.54%. Tainergy Tech Co Ltd manufactures lithium batteries and energy storage systems for a variety of applications, including electric vehicles, power tools, and consumer electronics. The company has a strong presence in the Asia-Pacific region and is expanding its operations globally.

Summary

SolarEdge Technologies, Inc. has recently received a consensus recommendation of “Hold” from analysts, based on the company’s current performance and outlook. Analysts note that SolarEdge Technologies, Inc. has a strong balance sheet and a competitive portfolio of products, however their forward growth potential remains uncertain due to increasing competition. Furthermore, the company’s future success is likely to depend on key contracts that have yet to be signed. Given these mixed signals, analysts recommend a “Hold” rating until further clarity emerges.