Array (ARRY) Stock Forecast, Price Target & Predictions
ARRY Stock Forecast
Array stock forecast is as follows: an average price target of $16.13 (represents a 123.72% upside from ARRY’s last price of $7.21) and a rating consensus of 'Buy', based on 19 wall street analysts offering a 1-year stock forecast.
ARRY Price Target
The average price target for Array (ARRY) is $16.13 based on 1-year price targets from 19 Wall Street analysts in the past 3 months, with a price target range of $30.00 to $8.00. This represents a potential 123.72% upside from ARRY's last price of $7.21.
ARRY Analyst Ratings
According to 19 Wall Street analysts, Array's rating consensus is 'Buy'. The analyst rating breakdown for ARRY stock is 0 'Strong Buy' (0.00%), 13 'Buy' (68.42%), 6 'Hold' (31.58%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Array Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Sep 03, 2024 | Julian Dumoulin-Smith | Jefferies | $11.00 | $6.36 | 72.96% | 52.57% |
| Aug 12, 2024 | Tom Curran | Seaport Global | $17.00 | $6.92 | 145.49% | 135.78% |
| Aug 11, 2024 | Dimple Gosai | Bank of America Securities | $11.00 | $7.10 | 54.93% | 52.57% |
| Aug 09, 2024 | Kashy Harrison | Piper Sandler | $8.00 | $7.31 | 9.44% | 10.96% |
| Aug 09, 2024 | Michael Blum | Wells Fargo | $10.00 | $8.99 | 11.23% | 38.70% |
| Aug 09, 2024 | Colin Rusch | Oppenheimer | $17.00 | $8.99 | 89.10% | 135.78% |
| Aug 09, 2024 | Ameet Thakkar | BMO Capital | $11.00 | $8.99 | 22.36% | 52.57% |
| Aug 09, 2024 | Jon Windham | UBS | $16.00 | $8.99 | 77.98% | 121.91% |
| Jul 11, 2024 | Joseph Osha | Guggenheim | $18.00 | $9.90 | 81.82% | 149.65% |
| Jul 08, 2024 | Tristan Richardson | Scotiabank | $17.00 | $9.61 | 76.90% | 135.78% |
The latest Array stock forecast, released on Sep 03, 2024 by Julian Dumoulin-Smith from Jefferies, set a price target of $11.00, which represents a 72.96% increase from the stock price at the time of the forecast ($6.36), and a 52.57% increase from ARRY last price ($7.21).
Array Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 1 | 10 | 15 |
| Avg Price Target | $11.00 | $13.60 | $14.33 |
| Last Closing Price | $7.21 | $7.21 | $7.21 |
| Upside/Downside | 52.57% | 88.63% | 98.75% |
In the current month, the average price target of Array stock is $11.00, according to 1 Wall Street analyst offering twelve months forecast. The average price target represents a 52.57% increase as opposed to Array's last price of $7.21. This month's average price target is down -19.12% compared to last quarter, and down -23.24% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Aug 16, 2024 | Scotiabank | Sector Outperform | Sector Outperform | Hold |
| Aug 12, 2024 | Seaport Global | Buy | Buy | Hold |
| Aug 09, 2024 | Cowen & Co. | Hold | Hold | Hold |
| Aug 09, 2024 | Piper Sandler | Neutral | Neutral | Hold |
| Aug 09, 2024 | Wells Fargo | Equal-Weight | Equal-Weight | Hold |
| Aug 09, 2024 | Oppenheimer | Outperform | Outperform | Hold |
| Aug 09, 2024 | BMO Capital | Market Perform | Market Perform | Hold |
| Aug 09, 2024 | UBS | Buy | Buy | Hold |
| Jul 12, 2024 | Citigroup | Neutral | Buy | Upgrade |
| Jul 11, 2024 | Guggenheim | Buy | Buy | Hold |
Array's last stock rating was published by Scotiabank on Aug 16, 2024. The company gave ARRY a "Sector Outperform" rating, the same as its previous rate.
Array Financial Forecast
Array Revenue Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $341.62M | - | $507.73M | $376.77M | $402.07M | $515.02M | - | $300.59M | $212.52M | $192.07M | $202.80M | $245.93M | $180.57M |
| Avg Forecast | $513.17M | $449.76M | $440.48M | $337.93M | $407.55M | $389.12M | $368.90M | $315.06M | $366.13M | $331.29M | $311.70M | $239.94M | $313.22M | $233.54M | $234.26M | $141.24M | $314.78M | $375.84M | $448.69M | $322.38M | $366.99M | $429.00M | $335.74M | $263.55M | $213.82M | $201.31M | $223.88M | $238.85M | $163.60M |
| High Forecast | $586.72M | $514.22M | $503.61M | $386.37M | $465.96M | $444.89M | $421.78M | $360.22M | $418.61M | $378.77M | $356.38M | $274.33M | $358.12M | $242.46M | $267.83M | $161.49M | $330.25M | $429.71M | $512.99M | $368.59M | $419.58M | $490.49M | $335.74M | $472.32M | $383.21M | $360.78M | $401.24M | $428.05M | $293.20M |
| Low Forecast | $484.67M | $424.79M | $416.02M | $319.17M | $384.92M | $367.51M | $348.42M | $297.57M | $345.80M | $312.89M | $294.40M | $226.62M | $295.83M | $225.27M | $221.25M | $133.40M | $301.27M | $354.98M | $423.77M | $304.48M | $346.61M | $405.18M | $335.74M | $203.72M | $165.28M | $155.61M | $173.06M | $184.62M | $126.46M |
| # Analysts | 13 | 7 | 7 | 9 | 9 | 7 | 11 | 7 | 6 | 12 | 6 | 6 | 7 | 14 | 7 | 9 | 16 | 8 | 8 | 9 | 12 | 7 | 7 | 5 | 6 | 12 | 11 | 10 | 10 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.09% | - | 1.13% | 1.17% | 1.10% | 1.20% | - | 1.14% | 0.99% | 0.95% | 0.91% | 1.03% | 1.10% |
Array's average Quarter revenue forecast for Mar 24 based on 9 analysts is $141.24M, with a low forecast of $133.40M, and a high forecast of $161.49M. ARRY's average Quarter revenue forecast represents a -58.65% decrease compared to the company's last Quarter revenue of $341.62M (Dec 23).
Array EBITDA Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 9 | 7 | 11 | 7 | 6 | 12 | 6 | 6 | 7 | 14 | 7 | 9 | 16 | 8 | 8 | 9 | 12 | 7 | 7 | 5 | 6 | 12 | 11 | 10 | 10 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $23.07M | - | $89.95M | $63.52M | $46.74M | $41.18M | - | $-12.13M | $-21.28M | $-9.94M | $12.07M | $19.46M | $4.50M |
| Avg Forecast | $58.06M | $50.88M | $49.83M | $38.23M | $46.11M | $44.02M | $41.73M | $35.64M | $41.42M | $37.48M | $35.26M | $27.14M | $35.44M | $26.42M | $26.50M | $15.98M | $35.61M | $42.52M | $50.76M | $36.47M | $41.52M | $-5.53M | $37.98M | $-4.99M | $24.19M | $-4.37M | $13.27M | $20.43M | $18.51M |
| High Forecast | $66.38M | $58.17M | $56.97M | $43.71M | $52.71M | $50.33M | $47.72M | $40.75M | $47.36M | $42.85M | $40.32M | $31.04M | $40.51M | $27.43M | $30.30M | $18.27M | $37.36M | $48.61M | $58.04M | $41.70M | $47.47M | $-4.43M | $37.98M | $-3.99M | $43.35M | $-3.50M | $15.93M | $24.51M | $33.17M |
| Low Forecast | $54.83M | $48.06M | $47.07M | $36.11M | $43.55M | $41.58M | $39.42M | $33.66M | $39.12M | $35.40M | $33.31M | $25.64M | $33.47M | $25.48M | $25.03M | $15.09M | $34.08M | $40.16M | $47.94M | $34.45M | $39.21M | $-6.64M | $37.98M | $-5.98M | $18.70M | $-5.25M | $10.62M | $16.34M | $14.31M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.65% | - | 1.77% | 1.74% | 1.13% | -7.44% | - | 2.43% | -0.88% | 2.27% | 0.91% | 0.95% | 0.24% |
9 analysts predict ARRY's average Quarter EBITDA for Mar 24 to be $15.98M, with a high of $18.27M and a low of $15.09M. This is -30.72% lower than Array's previous annual EBITDA (Dec 23) of $23.07M.
Array Net Income Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 9 | 7 | 11 | 7 | 6 | 12 | 6 | 6 | 7 | 14 | 7 | 9 | 16 | 8 | 8 | 9 | 12 | 7 | 7 | 5 | 6 | 12 | 11 | 10 | 10 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $19.34M | - | $64.81M | $26.13M | $-5.25M | $40.82M | - | $-22.05M | $-27.72M | $-25.55M | $-17.00K | $2.89M | $-9.77M |
| Avg Forecast | $48.14M | $59.41M | $57.47M | $35.09M | $57.98M | $53.03M | $45.65M | $33.85M | $50.04M | $38.93M | $34.74M | $16.53M | $39.63M | $19.77M | $16.62M | $-5.36M | $16.85M | $19.86M | $27.24M | $4.95M | $14.82M | $-14.22M | $2.62M | $-24.26M | $-4.48M | $-11.24M | $-18.70K | $3.03M | $8.48M |
| High Forecast | $57.10M | $70.47M | $68.17M | $41.63M | $68.78M | $62.91M | $54.15M | $40.15M | $59.36M | $46.19M | $41.21M | $19.60M | $47.02M | $25.86M | $19.71M | $-4.97M | $19.92M | $23.56M | $32.31M | $5.87M | $17.58M | $-11.38M | $2.62M | $-19.41M | $-3.16M | $-8.99M | $-14.96K | $3.64M | $17.21M |
| Low Forecast | $44.66M | $55.12M | $53.32M | $32.56M | $53.79M | $49.20M | $42.35M | $31.40M | $46.43M | $36.12M | $32.23M | $15.33M | $36.77M | $12.17M | $15.42M | $-6.36M | $13.79M | $18.42M | $25.27M | $4.59M | $13.75M | $-17.07M | $2.62M | $-29.11M | $-9.10M | $-13.49M | $-22.44K | $2.43M | $5.98M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.15% | - | 2.38% | 5.28% | -0.35% | -2.87% | - | 0.91% | 6.18% | 2.27% | 0.91% | 0.95% | -1.15% |
Array's average Quarter net income forecast for Mar 24 is $-5.36M, with a range of $-6.36M to $-4.97M. ARRY's average Quarter net income forecast represents a -127.70% decrease compared to the company's last Quarter net income of $19.34M (Dec 23).
Array SG&A Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 9 | 7 | 11 | 7 | 6 | 12 | 6 | 6 | 7 | 14 | 7 | 9 | 16 | 8 | 8 | 9 | 12 | 7 | 7 | 5 | 6 | 12 | 11 | 10 | 10 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $43.71M | - | $40.25M | $38.14M | $37.71M | $38.91M | - | $39.83M | $22.70M | $18.49M | $15.11M | $24.67M | $20.86M |
| Avg Forecast | $42.65M | $37.38M | $36.61M | $28.08M | $33.87M | $32.34M | $30.66M | $26.18M | $30.43M | $27.53M | $25.90M | $19.94M | $26.03M | $19.41M | $19.47M | $11.74M | $26.16M | $31.23M | $37.29M | $26.79M | $30.50M | $10.29M | $27.90M | $43.81M | $17.77M | $8.14M | $16.62M | $25.91M | $13.60M |
| High Forecast | $48.76M | $42.73M | $41.85M | $32.11M | $38.72M | $36.97M | $35.05M | $29.94M | $34.79M | $31.48M | $29.62M | $22.80M | $29.76M | $20.15M | $22.26M | $13.42M | $27.45M | $35.71M | $42.63M | $30.63M | $34.87M | $12.35M | $27.90M | $52.57M | $31.85M | $9.76M | $19.95M | $31.09M | $24.37M |
| Low Forecast | $40.28M | $35.30M | $34.57M | $26.52M | $31.99M | $30.54M | $28.96M | $24.73M | $28.74M | $26.00M | $24.47M | $18.83M | $24.58M | $18.72M | $18.39M | $11.09M | $25.04M | $29.50M | $35.22M | $25.30M | $28.80M | $8.23M | $27.90M | $35.05M | $13.74M | $6.51M | $13.30M | $20.73M | $10.51M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.67% | - | 1.08% | 1.42% | 1.24% | 3.78% | - | 0.91% | 1.28% | 2.27% | 0.91% | 0.95% | 1.53% |
Array's average Quarter SG&A projection for Mar 24 is $11.74M, based on 9 Wall Street analysts, with a range of $11.09M to $13.42M. The forecast indicates a -73.15% fall compared to ARRY last annual SG&A of $43.71M (Dec 23).
Array EPS Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 9 | 7 | 11 | 7 | 6 | 12 | 6 | 6 | 7 | 14 | 7 | 9 | 16 | 8 | 8 | 9 | 12 | 7 | 7 | 5 | 6 | 12 | 11 | 10 | 10 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $0.13 | - | $0.43 | $0.09 | $-0.03 | $0.19 | - | $-0.15 | $-0.21 | $-0.20 | $-0.04 | $0.04 | $-0.08 |
| Avg Forecast | $0.32 | $0.39 | $0.38 | $0.23 | $0.38 | $0.35 | $0.30 | $0.22 | $0.33 | $0.26 | $0.23 | $0.11 | $0.26 | $0.13 | $0.11 | $-0.04 | $0.11 | $0.13 | $0.18 | $0.03 | $0.10 | $0.11 | $0.02 | $-0.07 | $-0.03 | $-0.06 | $0.02 | $0.20 | $0.06 |
| High Forecast | $0.38 | $0.46 | $0.45 | $0.27 | $0.45 | $0.41 | $0.36 | $0.26 | $0.39 | $0.30 | $0.27 | $0.13 | $0.31 | $0.17 | $0.13 | $-0.03 | $0.13 | $0.15 | $0.21 | $0.04 | $0.12 | $0.13 | $0.02 | $-0.05 | $-0.02 | $-0.04 | $0.03 | $0.40 | $0.11 |
| Low Forecast | $0.29 | $0.36 | $0.35 | $0.21 | $0.35 | $0.32 | $0.28 | $0.21 | $0.31 | $0.24 | $0.21 | $0.10 | $0.24 | $0.08 | $0.10 | $-0.04 | $0.09 | $0.12 | $0.17 | $0.03 | $0.09 | $0.10 | $0.02 | $-0.14 | $-0.06 | $-0.11 | $0.01 | $0.14 | $0.04 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.17% | - | 2.40% | 2.77% | -0.36% | 1.71% | - | 2.13% | 7.13% | 3.58% | -2.49% | 0.20% | -1.39% |
According to 9 Wall Street analysts, Array's projected average Quarter EPS for Mar 24 is $-0.04, with a low estimate of $-0.04 and a high estimate of $-0.03. This represents a -127.07% decrease compared to ARRY previous annual EPS of $0.13 (Dec 23).
Array Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| SPWR | SunPower | $0.12 | $17.50 | 14483.33% | Hold |
| SEDG | SolarEdge | $22.52 | $185.60 | 724.16% | Hold |
| ARRY | Array | $7.21 | $16.13 | 123.72% | Buy |
| NOVA | Sunnova Energy | $12.24 | $24.91 | 103.51% | Buy |
| RUN | Sunrun | $20.31 | $35.68 | 75.68% | Buy |
| ENPH | Enphase Energy | $118.53 | $202.70 | 71.01% | Buy |
| CSIQ | Canadian Solar | $14.06 | $22.33 | 58.82% | Buy |
| NXT | Nextracker | $37.34 | $55.64 | 49.01% | Buy |
| JKS | JinkoSolar | $20.12 | $25.00 | 24.25% | Sell |
| FSLR | First Solar | $239.98 | $227.76 | -5.09% | Buy |
ARRY Forecast FAQ
Is Array a good buy?
Yes, according to 19 Wall Street analysts, Array (ARRY) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 13 'Buy' recommendations, accounting for 68.42% of ARRY's total ratings.
What is ARRY's price target?
Array (ARRY) average price target is $16.13 with a range of $8 to $30, implying a 123.72% from its last price of $7.21. The data is based on 19 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Array stock go up soon?
According to Wall Street analysts' prediction for ARRY stock, the company can go up by 123.72% (from the last price of $7.21 to the average price target of $16.13), up by 316.09% based on the highest stock price target, and up by 10.96% based on the lowest stock price target.
Can Array stock reach $11?
ARRY's average twelve months analyst stock price target of $16.13 supports the claim that Array can reach $11 in the near future.
What is Array's current price target trend?
1 Wall Street analyst forecast a $11 price target for Array (ARRY) this month, up 52.57% from its last price of $7.21. Compared to the last 3 and 12 months, the average price target increased by 88.63% and increased by 98.75%, respectively.
What are Array's analysts' financial forecasts?
Array's analysts financial forecasts for the fiscal year (Dec 2026) are as follows: average revenue is $1.48B (high $1.69B, low $1.4B), average EBITDA is $167.51M (high $191.51M, low $158.21M), average net income is $190.5M (high $225.99M, low $176.75M), average SG&A $123.05M (high $140.68M, low $116.21M), and average EPS is $1.25 (high $1.48, low $1.16). ARRY's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $1.74B (high $1.99B, low $1.64B), average EBITDA is $197M (high $225.24M, low $186.06M), average net income is $200.1M (high $237.38M, low $185.66M), average SG&A $144.71M (high $165.45M, low $136.68M), and average EPS is $1.31 (high $1.56, low $1.22).
Did the ARRY's actual financial results beat the analysts' financial forecasts?
Based on Array's last annual report (Dec 2023), the company's revenue was $1.58B, beating the average analysts forecast of $1.46B by 7.86%. Apple's EBITDA was $171.86M, beating the average prediction of $165.36M by 3.93%. The company's net income was $137.24M, beating the average estimation of $68.9M by 99.20%. Apple's SG&A was $159.54M, beating the average forecast of $121.47M by 31.33%. Lastly, the company's EPS was $0.9, beating the average prediction of $0.453 by 98.83%. In terms of the last quarterly report (Dec 2023), Array's revenue was $341.62M, beating the average analysts' forecast of $314.78M by 8.53%. The company's EBITDA was $23.06M, missing the average prediction of $35.61M by -35.23%. Array's net income was $19.34M, beating the average estimation of $16.85M by 14.76%. The company's SG&A was $43.71M, beating the average forecast of $26.16M by 67.09%. Lastly, the company's EPS was $0.13, beating the average prediction of $0.111 by 17.40%