SolarCity Corp PT Raised to $83.00 at Robert W. Baird (SCTY)
Equities researchers at Robert W. Baird increased their price objective on shares of SolarCity Corp (NASDAQ:SCTY) from $80.00 to $83.00 in a research report issued on Friday. Robert W. Baird’s target price points to a potential upside of 18.33% from the company’s current price.
Shares of SolarCity Corp (NASDAQ:SCTY) traded down 7.26% during mid-day trading on Friday, hitting $70.14. 13,647,517 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 $69.50 and a 200-day moving average of $64.88. The company’s market cap is $6.460 billion. SolarCity Corp also was the target of unusually large options trading activity on Wednesday. Stock investors acquired 19,068 call options on the company. This represents an increase of 110% compared to the typical daily volume of 9,061 call options.
SolarCity Corp (NASDAQ:SCTY) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.99) by $0.47. The company had revenue of $61.30 million for the quarter, compared to the consensus estimate of $63.24 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. The company’s quarterly revenue was up 61.7% on a year-over-year basis. Analysts expect that SolarCity Corp will post $-3.86 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated an “outperform” rating on shares of SolarCity Corp in a research note on Friday. They now have a $97.00 price target on the stock, up previously from $93.00. Separately, analysts at Goldman Sachs raised their price target on shares of SolarCity Corp to $96.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $86.78.
In other SolarCity Corp news, EVP John M. Stanton sold 1,500 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $70.59, for a total value of $105,885.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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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