SolarEdge Technologies (SEDG) Ascends While Market Falls: Some Facts to Note

Company Performance - SolarEdge Technologies' stock closed at $27.01, reflecting a +0.75% change from the previous trading day's closing, outperforming the S&P 500's daily loss of 0.5% [1] - The company is expected to report earnings of -$1.56 per share on August 7, 2024, indicating a year-over-year decline of 159.54% [2] - The latest consensus estimate predicts revenue of $258.19 million, representing a 73.95% decrease compared to the same quarter of the previous year [2] - For the full year, analysts expect earnings of -$4.66 per share and revenue of $1.32 billion, marking changes of -213.11% and -55.62% respectively from last year [7] Analyst Estimates - Recent changes to analyst estimates for SolarEdge Technologies reflect shifting short-term business patterns, with positive revisions indicating analysts' confidence in the company's performance [3] - The Zacks Consensus EPS estimate has decreased by 1.88% over the last 30 days, and SolarEdge Technologies currently holds a Zacks Rank of 4 (Sell) [4] Industry Context - The solar industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 168, placing it within the bottom 34% of over 250 industries [9] - Over the past month, shares of SolarEdge Technologies gained 11.85%, outperforming the Oils-Energy sector's loss of 10.92% and the S&P 500's gain of 0.1% [6]