Array Technologies, Inc. (ARRY)

Array Technologies Stock Forecast

Stock Price Forecast

The 17 analysts with 12-month price forecasts for Array Technologies stock have an average target of 20.41, with a low estimate of 14 and a high estimate of 37. The average target predicts an increase of 86.22% from the current stock price of 10.96.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$14	$20.41	$18	$37
Change	+27.74%	+86.22%	+64.23%	+237.59%

Analyst Ratings

The average analyst rating for ARRY stock from 19 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Dec '23	Jan '24	Feb '24	Mar '24	Apr '24	May '24
Strong Buy	5	5	5	5	5	5
Buy	6	4	4	3	4	5
Hold	6	8	7	8	7	7
Sell	1	1	2	2	2	2
Strong Sell	0	0	0	0	0	0
Total	18	18	18	18	18	19

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Michael Blum Wells Fargo	Wells Fargo	Hold Maintains $16 → $14	Hold	Maintains	$16 → $14	+27.74%	May 17, 2024
Kashy Harrison Piper Sandler	Piper Sandler	Hold Maintains $13 → $14	Hold	Maintains	$13 → $14	+27.74%	May 10, 2024
Colin Rusch Oppenheimer	Oppenheimer	Hold → Buy Upgrades $20	Hold → Buy	Upgrades	$20	+82.48%	May 10, 2024
Philip Shen Roth MKM	Roth MKM	Strong Buy Maintains $25 → $20	Strong Buy	Maintains	$25 → $20	+82.48%	May 9, 2024
Tristan Richardson Scotiabank	Scotiabank	Buy Maintains $25 → $18	Buy	Maintains	$25 → $18	+64.23%	Apr 29, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

1.38B

Decreased by -12.34%

from 1.58B

Revenue Next Year

1.74B

Increased by 25.69%

from 1.38B

EPS This Year

1.10

Increased by 95.61%

from 0.56

EPS Next Year

1.46

Increased by 33.49%

from 1.10

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
Revenue	647.90M	872.66M	853.32M	1.64B	1.58B	1.38B	1.74B	1.89B	1.93B	2.20B
Revenue Growth	122.81%	34.69%	-2.22%	91.90%	-3.72%	-12.34%	25.69%	8.75%	2.06%	14.06%
EPS	0.33	0.49	-0.51	-0.29	0.56	1.10	1.46	1.59	1.81	2.01
EPS Growth	-	48.48%	-	-	-	95.61%	33.49%	8.57%	14.05%	10.85%
No. Analysts	-	-	-	-	-	27	26	16	6	6

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	2.0B	2.4B	2.4B	2.7B	3.2B
Avg	1.4B	1.7B	1.9B	1.9B	2.2B
Low	1.3B	1.4B	1.5B	1.5B	1.7B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	24.8%	72.6%	35.9%	45.3%	63.6%
Avg	-12.3%	25.7%	8.8%	2.1%	14.1%
Low	-19.8%	2.0%	-14.3%	-20.5%	-10.6%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	1.23	2.31	2.18	2.55	3.02
Avg	1.10	1.46	1.59	1.81	2.01
Low	0.98	1.00	1.11	1.46	1.56

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	119.4%	111.3%	49.4%	60.7%	67.0%
Avg	95.6%	33.5%	8.6%	14.0%	10.8%
Low	75.0%	-8.7%	-24.1%	-8.0%	-13.9%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.