SolarCity Corp Receives Average Rating of “Buy” from Brokerages (NASDAQ:SCTY)
SolarCity Corp (NASDAQ:SCTY) has been given an average recommendation of “Buy” by the ten ratings firms that are currently covering the stock, American Banking News reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $79.25.
SolarCity Corp (NASDAQ:SCTY) traded up 0.61% during mid-day trading on Friday, hitting $51.40. The stock had a trading volume of 669,225 shares. SolarCity Corp has a 52-week low of $28.31 and a 52-week high of $88.35. The stock’s 50-day moving average is $54.25 and its 200-day moving average is $61.92. The company’s market cap is $4.734 billion.
SolarCity Corp (NASDAQ:SCTY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.26) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.74) by $0.48. The company had revenue of $63.54 million for the quarter, compared to the consensus estimate of $53.39 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. The company’s quarterly revenue was up 111.9% on a year-over-year basis. Analysts expect that SolarCity Corp will post $-3.93 EPS for the current fiscal year.
In other SolarCity Corp news, EVP Seth Weissman sold 7,000 shares of SolarCity Corp stock on the open market in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $48.85, for a total transaction of $341,950.00. Following the sale, the executive vice president now directly owns 158,777 shares in the company, valued at approximately $7,756,256. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of SolarCity Corp from $75.00 to $80.00 in a research note on Friday, May 9th. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of SolarCity Corp in a research note on Thursday, May 8th. They now have a $75.00 price target on the stock. Finally, analysts at Roth Capital upgraded shares of SolarCity Corp from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $80.00 price target on the stock.
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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