SolarCity Corp Price Target Increased to $77.00 by Analysts at JPMorgan Chase & Co. (SCTY)
Stock analysts at JPMorgan Chase & Co. upped their price target on shares of SolarCity Corp (NASDAQ:SCTY) from $72.00 to $77.00 in a report issued on Tuesday. JPMorgan Chase & Co.’s target price indicates a potential upside of 15.22% from the stock’s previous close.
A number of other analysts have also recently weighed in on SCTY. Analysts at Canaccord Genuity initiated coverage on shares of SolarCity Corp in a research note on Wednesday, July 2nd. They set a “buy” rating and a $94.00 price target on the stock. Separately, analysts at Roth Capital raised their price target on shares of SolarCity Corp from $65.00 to $80.00 in a research note on Wednesday, June 18th. Finally, 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $81.44.
In other SolarCity Corp news, EVP Seth R. Weissman unloaded 7,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $65.15, for a total value of $456,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SolarCity Corp (NASDAQ:SCTY) traded down 1.00% during mid-day trading on Tuesday, hitting $66.17. 691,077 shares of the company’s stock traded hands. SolarCity Corp has a one year low of $28.31 and a one year high of $88.35. The stock has a 50-day moving average of $60.90 and a 200-day moving average of $64.13. The company’s market cap is $6.094 billion.
SolarCity Corp (NASDAQ:SCTY) last released its 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 last year, the company posted ($0.41) earnings per share. SolarCity Corp’s revenue was up 111.9% compared to the same quarter last year. Analysts expect that SolarCity Corp will post $-3.86 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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