Share on StockTwits

Shares of SolarCity Corp (NASDAQ:SCTY) have earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the company, Analyst Ratings News reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $87.30.

Shares of SolarCity Corp (NASDAQ:SCTY) opened at 71.81 on Wednesday. SolarCity Corp has a one year low of $28.31 and a one year high of $88.35. The stock’s 50-day moving average is $69. and its 200-day moving average is $64.88. The company’s market cap is $6.656 billion.

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 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. On average, analysts predict that SolarCity Corp will post $-3.99 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of SolarCity Corp in a research note on Thursday. They set an “equal weight” rating and a $92.00 price target on the stock. Separately, 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. Finally, 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.

In other SolarCity Corp news, CTO Peter J. Rive sold 125,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were 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 SEC, 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.