Array Technologies Stock Forecast

Stock Price Forecast

The 17 analysts with 12-month price forecasts for Array Technologies stock have an average target of 18.94, with a low estimate of 14 and a high estimate of 29. The average target predicts an increase of 96.68% from the current stock price of 9.63.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$14	$18.94	$18	$29
Change	+45.38%	+96.68%	+86.92%	+201.14%

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

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Biju Perincheril Susquehanna	Susquehanna	Buy Initiates $14	Buy	Initiates	$14	+45.38%	Jun 28, 2024
Andrew Percoco Morgan Stanley	Morgan Stanley	Hold Maintains $18 → $17	Hold	Maintains	$18 → $17	+76.53%	May 23, 2024
Michael Blum Wells Fargo	Wells Fargo	Hold Maintains $16 → $14	Hold	Maintains	$16 → $14	+45.38%	May 17, 2024
Kashy Harrison Piper Sandler	Piper Sandler	Hold Maintains $13 → $14	Hold	Maintains	$13 → $14	+45.38%	May 10, 2024
Colin Rusch Oppenheimer	Oppenheimer	Hold → Buy Upgrades $20	Hold → Buy	Upgrades	$20	+107.68%	May 10, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

1.35B

from 1.58B

-14.50%

from 1.58B

Revenue Next Year

1.64B

from 1.35B

21.29%

from 1.35B

EPS This Year

1.12

from 0.56

99.72%

from 0.56

EPS Next Year

1.36

from 1.12

21.71%

from 1.12

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028
Revenue	647.90M	872.66M	853.32M	1.64B	1.58B	1.35B	1.64B	1.77B	1.97B	2.22B
Revenue Growth	122.81%	34.69%	-2.22%	91.90%	-3.72%	-14.50%	21.29%	8.20%	11.42%	12.79%
EPS	0.33	0.49	-0.51	-0.29	0.56	1.12	1.36	1.47	1.75	2.02
EPS Growth	-	48.48%	-	-	-	99.72%	21.71%	7.66%	19.54%	15.09%
Forward PE	-	-	-	-	-	8.61	7.07	6.57	5.50	4.78
No. Analysts	-	-	-	-	-	28	28	16	6	5

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	1.4B	2.0B	2.0B	2.7B	3.2B
Avg	1.3B	1.6B	1.8B	2.0B	2.2B
Low	1.2B	1.4B	1.5B	1.6B	1.7B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	-9.5%	50.1%	24.4%	55.1%	60.1%
Avg	-14.5%	21.3%	8.2%	11.4%	12.8%
Low	-22.2%	3.2%	-10.6%	-8.1%	-12.6%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	1.25	1.88	1.88	2.55	3.02
Avg	1.12	1.36	1.47	1.75	2.02
Low	0.96	1.04	1.19	1.38	1.43

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	123.5%	68.1%	38.1%	74.1%	72.6%
Avg	99.7%	21.7%	7.7%	19.5%	15.1%
Low	71.5%	-7.1%	-12.6%	-5.7%	-18.3%

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.