Deutsche Bank Downgrades SolarCity Corp to Hold with Price Target $25.00

Brokerage firm Deutsche Bank Downgrades its rating on SolarCity Corp(NASDAQ:SCTY). In a research note issued to the investors, the brokerage major Lowers the price-target to $25.00 per share. The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Deutsche Bank was issued on Jun 22, 2016.

In a different note, On Jun 22, 2016, Stifel Nicolaus said it Downgrades its rating on SolarCity Corp. The shares have been rated ‘Hold’ by the firm. On Jun 22, 2016, Axiom said it Maintains its rating on SolarCity Corp. The shares have been rated ‘Sell’ by the firm. On Jun 22, 2016, JP Morgan said it Maintains its rating on SolarCity Corp. The shares have been rated ‘Neutral’ by the firm. On Jun 22, 2016, Credit Suisse said it Maintains its rating on SolarCity Corp. The shares have been rated ‘Outperform’ by the firm. On Jun 22, 2016, Barclays said it Maintains its rating on SolarCity Corp. The shares have been rated ‘Underweight’ by the firm. On Jun 22, 2016, Goldman Sachs said it Maintains its rating on SolarCity Corp. The shares have been rated ‘Neutral’ by the firm.

SolarCity Corp (SCTY) made into the market gainers list on Mondays trading session with the shares advancing 1.89% or 0.42 points. Due to strong positive momentum, the stock ended at $22.62, which is also near the day’s high of $22.88. The stock began the session at $21.76 and the volume stood at 69,21,163 shares. The 52-week high of the shares is $61.72 and the 52 week low is $16.305. The company has a current market capitalization of $2,223 M and it has 9,82,96,422 shares in outstanding.

SolarCity Corp(SCTY) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $122.57M. Analysts had an estimated revenue of $108.55M. Earnings per share were $-2.56. Analysts had estimated an EPS of $-2.34.

Several Insider Transactions has been reported to the SEC. On May 17, 2016, Seth R Weissman (EVP, General Counsel) sold 940 shares at $20.35 per share price.Also, On May 17, 2016, Tanguy Serra (President & CFO) sold 2,617 shares at $20.51 per share price.On May 17, 2016, Hayden Barnard (Chief Revenue Officer) sold 3,428 shares at $20.35 per share price, according to the Form-4 filing with the securities and exchange commission.

SolarCity Corporation (SolarCity) sells renewable energy. The Company integrates the sales engineering installation monitoring maintenance and financing of its distributed solar energy systems. It offers long-term energy solutions to residential commercial and government customers. It offers its customers the option to either purchase and own solar energy systems or to purchase the energy that its solar energy systems produce through various contractual arrangements. The Company’s products services and technologies include solar energy systems customer agreements grid control / energy storage systems Zep solar mounting systems and software. The Company’s wholly owned subsidiary Zep Solar Inc. (Zep Solar) licenses its Zep Groove technology to photovoltaic module and power electronics manufacturers and supplies the Company with complementary mounting and grounding hardware. The Company served customers in 15 states and the District of Columbia United States.

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