Robert W. Baird Increases SolarCity Corp. Price Target to $81.00 (SCTY)
Stock analysts at Robert W. Baird raised their price target on shares of SolarCity Corp. (NASDAQ:SCTY) from $71.00 to $81.00 in a report issued on Thursday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 20.02% from the company’s current price.
SCTY has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. upgraded shares of SolarCity Corp. from a “neutral” rating to a “conviction-buy” rating in a research note to investors on Monday. They now have a $80.00 price target on the stock, up previously from $65.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of SolarCity Corp. in a research note to investors on Friday, November 15th. They now have a $75.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “positive” rating on shares of SolarCity Corp. in a research note to investors on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $74.20.
In other SolarCity Corp. news, VP John Stanton unloaded 10,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.86, for a total value of $578,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
SolarCity Corp. (NASDAQ:SCTY) traded up 1.98% during mid-day trading on Thursday, hitting $67.49. The stock had a trading volume of 7,687,008 shares. SolarCity Corp. has a 1-year low of $13.11 and a 1-year high of $67.14. The stock’s 50-day moving average is $53.87 and its 200-day moving average is $44.83. The company’s market cap is $5.610 billion.
SolarCity Corp. (NASDAQ:SCTY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.47) by $0.04. The company had revenue of $48.60 million for the quarter, compared to the consensus estimate of $41.40 million. The company’s quarterly revenue was up 52.0% on a year-over-year basis. Analysts expect that SolarCity Corp. will post $-1.78 EPS for the current fiscal year.
SolarCity Corporation (NASDAQ:SCTY) is engaged in the design, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers.
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