SolarEdge Technologies (SEDG) Raises Guidance; Roth Capital Raises PT

Roth Capital maintains a Buy rating on SolarEdge Technologies, Inc. (NASDAQ: SEDG), and raises the price target to $35 after a FQ4 beat. SEDG revenues were reported at $86mn ( above consensus of $73mn), and GMs were higher-than-expected at 27.4% (consensus of 24.5%). SEDGE released FQ4 guidance that was well ahead of estimates. SEDG sees revenues of $92-96mn (vs. prior consensus of $82.5mn), and gross margins of 26-28% (vs. prior consensus of 24.6%).

Roth Capital analyst, Philip Shen, commented on SEDG, saying, "SEDG posted a strong FQ3 and issued FQ4 guidance well ahead of estimates.Despite a premium valuation relative to peers (likely on conservative consensus), we believe the positive sentiment in the stock is just getting started. We see a number of positive catalysts ahead including (1) Continued share gains with existing/new customers; (2) Release of the next generation optimizer and inverter in 2015; and (3) Growth of a new storage segment. Reiterate Buy, PT to $35."

For an analyst ratings summary and ratings history on SolarEdge Technologies click here. For more ratings news on SolarEdge Technologies click here.

Shares of SolarEdge Technologies closed at $26.39 yesterday.

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