Array Technologies, Inc. (ARRY)

Array Technologies Stock Forecast

Stock Price Forecast

The 15 analysts with 12-month price forecasts for Array Technologies stock have an average target of 21.53, with a low estimate of 13 and a high estimate of 37. The average target predicts an increase of 80.32% from the current stock price of 11.94.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$13	$21.53	$19	$37
Change	+8.88%	+80.32%	+59.13%	+209.88%

Analyst Ratings

The average analyst rating for ARRY stock from 17 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	Nov '23	Dec '23	Jan '24	Feb '24	Mar '24	Apr '24
Strong Buy	5	5	5	5	5	5
Buy	7	6	4	4	3	3
Hold	4	6	8	7	8	7
Sell	1	1	1	2	2	2
Strong Sell	0	0	0	0	0	0
Total	17	18	18	18	18	17

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Maheep Mandloi Mizuho	Mizuho	Hold Maintains $18 → $16	Hold	Maintains	$18 → $16	+34.00%	Apr 19, 2024
Kashy Harrison Piper Sandler	Piper Sandler	Hold Maintains $12 → $13	Hold	Maintains	$12 → $13	+8.88%	Apr 11, 2024
Joseph Osha Guggenheim	Guggenheim	Strong Buy Maintains $20 → $22	Strong Buy	Maintains	$20 → $22	+84.25%	Apr 5, 2024
Christine Cho Barclays	Barclays	Hold → Buy Upgrades $15 → $18	Hold → Buy	Upgrades	$15 → $18	+50.75%	Apr 2, 2024
Ameet Thakkar BMO Capital	BMO Capital	Hold Initiates $16	Hold	Initiates	$16	+34.00%	Mar 22, 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	2.78B	2.73B
Revenue Growth	122.81%	34.69%	-2.22%	91.90%	-3.72%	-12.34%	25.69%	8.75%	46.90%	-1.73%
EPS	0.33	0.49	-0.51	-0.29	0.56	1.10	1.46	1.59	2.38	2.08
EPS Growth	-	48.48%	-	-	-	95.61%	33.49%	8.57%	49.71%	-12.45%
No. Analysts	-	-	-	-	-	27	26	16	4	3

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	3.5B	3.6B
Avg	1.4B	1.7B	1.9B	2.8B	2.7B
Low	1.3B	1.4B	1.5B	2.1B	2.1B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	24.8%	72.6%	35.9%	86.6%	30.9%
Avg	-12.3%	25.7%	8.8%	46.9%	-1.7%
Low	-19.8%	2.0%	-14.3%	10.6%	-25.0%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	1.23	2.31	2.18	2.89	2.14
Avg	1.10	1.46	1.59	2.38	2.08
Low	0.98	1.00	1.11	1.87	2.00

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	119.4%	111.3%	49.4%	81.9%	-9.9%
Avg	95.6%	33.5%	8.6%	49.7%	-12.4%
Low	75.0%	-8.7%	-24.1%	17.9%	-15.9%

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.