SolarCity Corp PT Raised to $98.00 at Roth Capital (SCTY)
Equities research analysts at Roth Capital raised their price objective on shares of SolarCity Corp (NASDAQ:SCTY) from $80.00 to $98.00 in a research note issued to investors on Friday. Roth Capital’s target price would indicate a potential upside of 39.72% 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 52-week low of $28.31 and a 52-week high of $88.35. The stock’s 50-day moving average is $69.50 and its 200-day moving average is $64.88. The company’s market cap is $6.460 billion. SolarCity Corp also was the recipient of some unusual options trading on Wednesday. Investors acquired 19,068 call options on the stock. This is an increase of 110% compared to the typical volume of 9,061 call options.
SolarCity Corp (NASDAQ:SCTY) last announced its earnings results on Thursday, August 7th. The company reported ($0.52) earnings per share (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. On average, analysts predict that SolarCity Corp will post $-3.86 earnings per share for the current fiscal year.
In other SolarCity Corp news, EVP John M. Stanton sold 1,500 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $70.59, for a total value of $105,885.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of SolarCity Corp from $94.00 to $95.00 in a research note on Friday. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $86.78.
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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