SolarCity Corp Given Consensus Rating of “Buy” by Brokerages (NASDAQ:SCTY)
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.
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