SolarCity Corp PT Raised to $95.00 at Canaccord Genuity (SCTY)
Analysts at Canaccord Genuity raised their price objective on shares of SolarCity Corp (NASDAQ:SCTY) from $94.00 to $95.00 in a research report issued to clients and investors on Friday. Canaccord Genuity’s price target indicates a potential upside of 35.44% from the company’s current price.
A number of other firms have also recently commented on SCTY. Analysts at Robert W. Baird raised their price target on shares of SolarCity Corp from $80.00 to $83.00 in a research note on Friday. Separately, 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. Finally, analysts at Goldman Sachs raised their price target on shares of SolarCity Corp to $96.00 in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $86.78.
SolarCity Corp (NASDAQ:SCTY) traded down 7.26% during mid-day trading on Friday, hitting $70.14. The stock had a trading volume of 13,647,517 shares. 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 $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. Traders purchased 19,068 call options on the company. This is an increase of approximately 110% compared to the typical volume of 9,061 call options.
SolarCity Corp (NASDAQ:SCTY) last released its earnings data on Thursday, August 7th. The company reported ($0.52) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.31) earnings per share. SolarCity Corp’s revenue was up 61.7% compared to the same quarter last year. Analysts expect that SolarCity Corp will post $-3.86 EPS for the current fiscal year.
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 transaction of $105,885.00. The sale was disclosed in a document filed with the SEC, 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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