Fintel reports that on January 29, 2025, Jefferies upgraded their outlook for Nextracker (NasdaqGS:NXT) from Hold to Buy.
Analyst Price Forecast Suggests 9.51% Upside
As of January 29, 2025, the average one-year price target for Nextracker is $53.92/share. The forecasts range from a low of $37.58 to a high of $73.50. The average price target represents an increase of 9.51% from its latest reported closing price of $49.24 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Nextracker is 2,604MM, a decrease of 6.04%. The projected annual non-GAAP EPS is 1.89.
What is the Fund Sentiment?
There are 917 funds or institutions reporting positions in Nextracker. This is an decrease of 41 owner(s) or 4.28% in the last quarter. Average portfolio weight of all funds dedicated to NXT is 0.27%, an increase of 4.56%. Total shares owned by institutions increased in the last three months by 3.68% to 170,201K shares. 
The put/call ratio of NXT is 0.77, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 7,844K shares representing 5.46% ownership of the company. In its prior filing, the firm reported owning 7,991K shares , representing a decrease of 1.87%. The firm decreased its portfolio allocation in NXT by 20.30% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,484K shares representing 3.12% ownership of the company. In its prior filing, the firm reported owning 3,822K shares , representing an increase of 14.76%. The firm decreased its portfolio allocation in NXT by 14.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,264K shares representing 2.97% ownership of the company. In its prior filing, the firm reported owning 4,256K shares , representing an increase of 0.17%. The firm decreased its portfolio allocation in NXT by 24.78% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,737K shares representing 2.60% ownership of the company. In its prior filing, the firm reported owning 2,943K shares , representing an increase of 21.25%. The firm decreased its portfolio allocation in NXT by 12.42% over the last quarter.
Geode Capital Management holds 3,594K shares representing 2.50% ownership of the company. In its prior filing, the firm reported owning 2,915K shares , representing an increase of 18.90%. The firm decreased its portfolio allocation in NXT by 52.36% over the last quarter.
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This story originally appeared on Fintel.
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