Shares of SunPower (NASDAQ: SPWR) are up over 8% in today’s trading session. This can be attributable to its earnings report for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.13, which beat analysts’ consensus estimate of $0.07 per share.
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In addition, sales increased 67.9% year-over-year, with revenue hitting $475.7 million. This beat analysts’ target by $48 million. Looking forward, management is expecting EBITDA in the range of $90 million to $110 million for Fiscal Year 2022.
Is SPWR Stock a Good Buy?
SPWR stock has a Hold consensus rating based on two Buys, two Holds, and three Sells assigned in the past three months. The average SPWR stock price target of $23.33 implies 27.56% upside potential.
