Analysts at Morgan Stanley (MS) initiated coverage on SolarCity Corporation (SCTY) with an “Equal-weight” rating and a $92 price target in a research report issued to clients on Thursday. The firm said growth potential is largely priced into ticker’s pps.
Other equities research analysts have also recently issued reports about SolarCity. Analysts at JP Morgan (JPM) and Credit Suisse (CS) maintained their ‘Overweight’ and ‘Outperform’ ratings, respectively on shares of the company in a research note on Friday, August 8. The firms also maintained their $83.00 and $97.00 SCTY price targets, respectively. Separately, analysts at Canaccord Genuity initiated coverage on shares of SolarCity in a research note on Wednesday, July 2nd. They set a ‘Buy’ rating and a $94.00 price target on the stock. Finally, analysts at Goldman Sachs (GS) maintained their ‘Buy’ rating and $92.00 price target on shares of SolarCity in a research note on Monday, May 8.
On valuation-measures, shares of SolarCity Corporation have a P/E to growth ratio of 0.47 and a t-12 negative return on equity of 40.27%. Price/sales for the t-12 period is at 29.84 while EPS is at ($0.47). The company has a market cap of $6.45 billion and a median Wall Street price target of $95.00 with a high target of $98.00.
Profitability-wise, SCTY’s t-12 profit margin currently stands at (21.35%) while operating ones are at (102.71%). The company reported $405.26 million in cash vs. $881 million in debt in its most recent quarter. SolarCity shares are currently trading down $1.58, or 2.23%, at $69.12, printing a one year return of about 92% and a year-to-date return of around 22%.
The chart below shows where the equity has traded over the last 52 weeks, with the 50-day and 200-day MAs included.
SolarCity Corporation designs, installs, sells or leases solar energy systems to residential and commercial customers, and government entities in the United States. The company was founded in 2006 and is headquartered in San Mateo, California.