Nextracker Analysts Boost Their Forecasts After Upbeat Q3 Results

Nextracker Inc. NXT reported better-than-expected third-quarter financial results and raised its FY25 GAAP EPS guidance on Tuesday.

NEXTracker reported quarterly earnings of 79 cents per share which beat the analyst consensus estimate of 45 cents per share. The company reported quarterly sales of $679.000 million which beat the analyst consensus estimate of $650.398 million.

“We’re very pleased with the company’s execution, delivering record revenue and profit year-to-date driven by strong demand,” said Dan Shugar, founder and CEO of Nextracker. “In the quarter, we successfully deployed several of our newly launched products and features at scale, expanding our total addressable market. In addition, we continue to increase our investment in R&D to drive rapid customer centric innovation ensuring our solutions remain at the forefront of solar technology while driving value for stakeholders worldwide.”

Nextracker raised its FY25 GAAP earnings forecast from $2.70-$2.50 to $3.31-$3.11

Nextracker shares closed at $39.62 on Tuesday.

These analysts made changes to their price targets on Nextracker following earnings announcement.

Barclays analyst Christine Cho upgraded NEXTracker from Equal-Weight to Overweight and raised the price target from $47 to $60.
Northland Capital Markets analyst Gus Richard reiterated NEXTracker with an Outperform and raised the price target from $48 to $55.
JP Morgan analyst Mark Strouse maintained the stock with an Overweight and increased the price target from $58 to $61.
Truist Securities analyst Jordan Levy reiterated the stock with a Buy and raised the price target from $54 to $56.
Piper Sandler analyst Kashy Harrison maintained NEXTracker with an Overweight and boosted the price target from $47 to $50.
UBS analyst Jon Windham maintained the stock with a Buy and raised the price target from $60 to $66.

Considering buying NEXT stock? Here’s what analysts think: