SolarCity Corp Given Consensus Recommendation of “Buy” by Analysts (NASDAQ:SCTY)
Shares of SolarCity Corp (NASDAQ:SCTY) have received an average rating of “Buy” from the ten brokerages that are covering the stock, AmericanBankingNews.com reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $86.78.
Several analysts have recently commented on the stock. Analysts at Roth Capital raised their price target on shares of SolarCity Corp from $80.00 to $98.00 in a research note on Friday, August 8th. Separately, 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, August 8th. Finally, 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, August 8th.
SolarCity Corp (NASDAQ:SCTY) opened at 70.79 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 $69.7 and a 200-day moving average of $64.78. The company’s market cap is $6.562 billion.
SolarCity Corp (NASDAQ:SCTY) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 61.7% on a year-over-year basis. Analysts expect that SolarCity Corp will post $-3.99 EPS for the current fiscal year.
In other SolarCity Corp news, CTO Peter J. Rive sold 125,000 shares of the stock on the open market in a transaction dated Thursday, August 7th. The stock was sold at an average price of $75.43, for a total transaction of $9,428,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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