SolarCity Corp Price Target Raised to $80.00 at Roth Capital (SCTY)
Analysts at Roth Capital upped their price target on shares of SolarCity Corp (NASDAQ:SCTY) from $65.00 to $80.00 in a research report issued to clients and investors on Wednesday. Roth Capital’s price target would indicate a potential upside of 23.97% from the stock’s previous close.
Other equities research analysts have also recently issued reports about 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 Goldman Sachs reiterated a “buy” rating on shares of SolarCity Corp in a research note on Thursday, May 8th. They now have a $92.00 price target on the stock, up previously from $85.00. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. SolarCity Corp currently has a consensus rating of “Buy” and a consensus target price of $79.25.
Shares of SolarCity Corp (NASDAQ:SCTY) opened at 64.53 on Wednesday. SolarCity Corp has a 52 week low of $28.31 and a 52 week high of $88.35. The stock has a 50-day moving average of $52.15 and a 200-day moving average of $62.12. The company’s market cap is $5.943 billion. SolarCity Corp also was the target of some unusual options trading activity on Tuesday. Stock traders purchased 75,140 call options on the stock. This is an increase of approximately 403% compared to the typical volume of 14,939 call options.
SolarCity Corp (NASDAQ:SCTY) last released its earnings data on Wednesday, May 7th. The company reported ($0.26) EPS for the quarter, beating the Thomson Reuters 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.
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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