Sunnova Energy (NOVA) Stock Forecast, Price Target & Predictions
NOVA Stock Forecast
Sunnova Energy stock forecast is as follows: an average price target of $26.52 (represents a 397.56% upside from NOVA’s last price of $5.33) and a rating consensus of 'Buy', based on 15 wall street analysts offering a 1-year stock forecast.
NOVA Price Target
The average price target for Sunnova Energy (NOVA) is $26.52 based on 1-year price targets from 15 Wall Street analysts in the past 3 months, with a price target range of $65.00 to $4.00. This represents a potential 397.56% upside from NOVA's last price of $5.33.
NOVA Analyst Ratings
According to 15 Wall Street analysts, Sunnova Energy's rating consensus is 'Buy'. The analyst rating breakdown for NOVA stock is 1 'Strong Buy' (6.67%), 9 'Buy' (60.00%), 5 'Hold' (33.33%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Sunnova Energy Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Jun 14, 2024 | Andrew Percoco | Morgan Stanley | $10.00 | $5.47 | 82.82% | 87.62% |
| May 21, 2024 | Kashy Harrison | Piper Sandler | $4.50 | $4.15 | 8.43% | -15.57% |
| May 06, 2024 | Donovan Schafer | Northland Securities | $4.00 | $4.63 | -13.70% | -24.95% |
| May 03, 2024 | Ameet Thakkar | BMO Capital | $6.00 | $4.91 | 22.26% | 12.57% |
| Apr 29, 2024 | Jordan Levy | Truist Financial | $9.00 | $4.34 | 107.37% | 68.86% |
| Apr 29, 2024 | Tristan Richardson | Scotiabank | $10.00 | $4.21 | 137.25% | 87.62% |
| Apr 19, 2024 | Michael Blum | Wells Fargo | $6.00 | $3.78 | 58.73% | 12.57% |
| Apr 05, 2024 | Biju Perincheril | Susquehanna | $12.00 | $5.13 | 133.92% | 125.14% |
| Mar 14, 2024 | Christopher Dendrinos | RBC Capital | $9.00 | $4.20 | 114.29% | 68.86% |
| Jan 23, 2024 | Jordan Levy | Truist Financial | $18.00 | $10.95 | 64.38% | 237.71% |
The latest Sunnova Energy stock forecast, released on Jun 14, 2024 by Andrew Percoco from Morgan Stanley, set a price target of $10.00, which represents a 82.82% increase from the stock price at the time of the forecast ($5.47), and a 87.62% increase from NOVA last price ($5.33).
Sunnova Energy Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | 2 | 8 | 15 |
| Avg Price Target | $7.25 | $7.69 | $13.83 |
| Last Closing Price | $5.33 | $5.33 | $5.33 |
| Upside/Downside | 36.02% | 44.28% | 159.47% |
In the current month, the average price target of Sunnova Energy stock is $7.25, according to 2 Wall Street analysts offering twelve months forecast. The average price target represents a 36.02% increase as opposed to Sunnova Energy's last price of $5.33. This month's average price target is down -5.72% compared to last quarter, and down -47.58% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Jun 14, 2024 | Morgan Stanley | Equal-Weight | Equal-Weight | Hold |
| May 21, 2024 | Piper Sandler | Overweight | Neutral | Downgrade |
| May 03, 2024 | BMO Capital | Market Perform | Market Perform | Hold |
| May 02, 2024 | Raymond James | Strong Buy | Strong Buy | Hold |
| Apr 29, 2024 | Scotiabank | Outperform | Outperform | Hold |
| Apr 22, 2024 | KeyBanc | Overweight | Sector Weight | Downgrade |
| Apr 19, 2024 | Wells Fargo | Overweight | Equal-Weight | Downgrade |
| Apr 05, 2024 | Susquehanna | Positive | Positive | Hold |
| Dec 19, 2023 | Piper Sandler | Neutral | Overweight | Upgrade |
| Dec 18, 2023 | Goldman Sachs | Neutral | Buy | Upgrade |
Sunnova Energy's last stock rating was published by Morgan Stanley on Jun 14, 2024. The company gave NOVA a "Equal-Weight" rating, the same as its previous rate.
Sunnova Energy Financial Forecast
Sunnova Energy Revenue Forecast
| Dec 28 | Oct 28 | Jul 28 | Mar 28 | Dec 27 | Oct 27 | Jul 27 | Mar 27 | Dec 26 | Oct 26 | Jul 26 | Mar 26 | Dec 25 | Oct 25 | Jul 25 | Mar 25 | Dec 24 | Oct 24 | Jul 24 | Mar 24 | Dec 23 | Oct 23 | Jul 23 | Mar 23 | Dec 22 | Oct 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $161.70M | $195.59M | - | - | $65.72M | $65.02M | $68.90M |
| Avg Forecast | $544.00M | $561.00M | $509.00M | $400.00M | $459.00M | $462.00M | $413.00M | $345.00M | $403.23M | $435.03M | $403.44M | $314.69M | $299.56M | $313.90M | $295.60M | $239.57M | $253.35M | $251.95M | $224.35M | $193.76M | $223.72M | $205.01M | $195.53M | $153.16M | $142.75M | $131.94M | $88.20M | $65.00M | $65.72M | $67.18M |
| High Forecast | $663.35M | $684.08M | $620.67M | $487.76M | $559.70M | $563.36M | $503.61M | $420.69M | $491.69M | $530.47M | $491.95M | $383.73M | $365.27M | $382.77M | $360.45M | $292.13M | $308.93M | $307.22M | $264.76M | $236.27M | $281.06M | $246.00M | $238.42M | $186.76M | $174.06M | $160.89M | $107.55M | $75.11M | $75.95M | $77.63M |
| Low Forecast | $419.23M | $432.34M | $392.26M | $308.26M | $353.73M | $356.04M | $318.28M | $265.87M | $310.75M | $335.26M | $310.91M | $242.52M | $230.85M | $241.91M | $227.80M | $184.63M | $195.24M | $194.16M | $167.81M | $149.32M | $182.03M | $157.54M | $150.68M | $118.03M | $110.01M | $101.68M | $67.97M | $50.63M | $51.19M | $52.32M |
| # Analysts | 13 | 7 | 7 | 9 | 14 | 8 | 8 | 10 | 14 | 8 | 8 | 10 | 13 | 7 | 7 | 9 | 14 | 8 | 16 | 5 | 11 | 20 | 10 | 10 | 9 | 9 | 9 | 9 | 10 | 10 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.06% | 1.37% | - | - | 1.01% | 0.99% | 1.03% |
Sunnova Energy's average Quarter revenue forecast for Jul 23 based on 10 analysts is $195.53M, with a low forecast of $150.68M, and a high forecast of $238.42M. NOVA's average Quarter revenue forecast represents a 20.92% increase compared to the company's last Quarter revenue of $161.70M (Mar 23).
Sunnova Energy EBITDA Forecast
| Dec 28 | Oct 28 | Jul 28 | Mar 28 | Dec 27 | Oct 27 | Jul 27 | Mar 27 | Dec 26 | Oct 26 | Jul 26 | Mar 26 | Dec 25 | Oct 25 | Jul 25 | Mar 25 | Dec 24 | Oct 24 | Jul 24 | Mar 24 | Dec 23 | Oct 23 | Jul 23 | Mar 23 | Dec 22 | Oct 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 14 | 8 | 8 | 10 | 14 | 8 | 8 | 10 | 13 | 7 | 7 | 9 | 14 | 8 | 16 | 5 | 11 | 20 | 10 | 10 | 9 | 9 | 9 | 9 | 10 | 10 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $15.55M | $42.16M | - | - | $-2.35M | $48.05M | $28.12M |
| Avg Forecast | $140.92M | $145.33M | $131.86M | $103.62M | $118.90M | $119.68M | $106.99M | $89.37M | $104.46M | $112.70M | $104.51M | $81.52M | $77.60M | $81.32M | $76.58M | $62.06M | $65.63M | $65.27M | $58.12M | $30.48M | $57.96M | $53.11M | $50.65M | $24.10M | $36.98M | $34.18M | $7.31M | $21.91M | $64.86M | $27.06M |
| High Forecast | $171.84M | $177.21M | $160.79M | $126.35M | $144.99M | $145.94M | $130.46M | $108.98M | $127.37M | $137.42M | $127.44M | $99.41M | $94.63M | $99.16M | $93.38M | $75.68M | $80.03M | $79.59M | $68.59M | $36.58M | $72.81M | $63.73M | $61.76M | $28.92M | $45.09M | $41.68M | $8.77M | $26.29M | $77.83M | $32.48M |
| Low Forecast | $108.60M | $112.00M | $101.62M | $79.86M | $91.63M | $92.23M | $82.45M | $68.88M | $80.50M | $86.85M | $80.54M | $62.82M | $59.80M | $62.67M | $59.01M | $47.83M | $50.58M | $50.30M | $43.47M | $24.39M | $47.16M | $40.81M | $39.03M | $19.28M | $28.50M | $26.34M | $5.85M | $17.53M | $51.89M | $21.65M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.65% | 1.14% | - | - | -0.11% | 0.74% | 1.04% |
10 analysts predict NOVA's average Quarter EBITDA for Jul 23 to be $50.65M, with a high of $61.76M and a low of $39.03M. This is 225.73% upper than Sunnova Energy's previous annual EBITDA (Mar 23) of $15.55M.
Sunnova Energy Net Income Forecast
| Dec 28 | Oct 28 | Jul 28 | Mar 28 | Dec 27 | Oct 27 | Jul 27 | Mar 27 | Dec 26 | Oct 26 | Jul 26 | Mar 26 | Dec 25 | Oct 25 | Jul 25 | Mar 25 | Dec 24 | Oct 24 | Jul 24 | Mar 24 | Dec 23 | Oct 23 | Jul 23 | Mar 23 | Dec 22 | Oct 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 14 | 8 | 8 | 10 | 14 | 8 | 8 | 10 | 13 | 7 | 7 | 9 | 14 | 8 | 16 | 5 | 11 | 20 | 10 | 10 | 9 | 9 | 9 | 9 | 10 | 10 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-110.35M | $-61.99M | - | - | $-33.58M | $-31.25M | $-27.54M |
| Avg Forecast | $-13.52M | $-8.60M | $-15.98M | $-43.01M | $-34.41M | $-36.87M | $-41.78M | $-51.62M | $-51.47M | $-30.96M | $-34.47M | $-68.01M | $-73.68M | $-62.63M | $-59.09M | $-92.12M | $-79.73M | $-63.83M | $-75.81M | $-41.54M | $-31.38M | $-40.21M | $-45.54M | $-32.84M | $-53.55M | $-35.48M | $-16.28M | $-29.85M | $-19.18M | $-26.51M |
| High Forecast | $-9.49M | $-6.04M | $-11.21M | $-30.19M | $-24.15M | $-25.88M | $-29.33M | $-36.23M | $-36.12M | $-21.73M | $-24.19M | $-47.74M | $-51.71M | $-43.95M | $-41.47M | $-64.65M | $-55.96M | $-44.80M | $-36.39M | $-33.23M | $34.00M | $390.92M | $-31.96M | $-26.27M | $-37.59M | $-24.90M | $-13.03M | $-23.88M | $-15.34M | $-21.21M |
| Low Forecast | $-17.37M | $-11.06M | $-20.53M | $-55.28M | $-44.22M | $-47.38M | $-53.70M | $-66.34M | $-66.15M | $-39.79M | $-44.30M | $-87.41M | $-94.69M | $-80.49M | $-75.95M | $-118.39M | $-102.47M | $-82.03M | $-113.72M | $-49.85M | $-107.22M | $-145.20M | $-58.53M | $-39.40M | $-68.83M | $-45.60M | $-19.54M | $-35.82M | $-23.02M | $-31.81M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.36% | 1.16% | - | - | 1.13% | 1.63% | 1.04% |
Sunnova Energy's average Quarter net income forecast for undefined is $NaN, with a range of $NaN to $NaN. NOVA's average Quarter net income forecast represents a NaN% decrease compared to the company's last Quarter net income of $NaN (undefined).
Sunnova Energy SG&A Forecast
| Dec 28 | Oct 28 | Jul 28 | Mar 28 | Dec 27 | Oct 27 | Jul 27 | Mar 27 | Dec 26 | Oct 26 | Jul 26 | Mar 26 | Dec 25 | Oct 25 | Jul 25 | Mar 25 | Dec 24 | Oct 24 | Jul 24 | Mar 24 | Dec 23 | Oct 23 | Jul 23 | Mar 23 | Dec 22 | Oct 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 14 | 8 | 8 | 10 | 14 | 8 | 8 | 10 | 13 | 7 | 7 | 9 | 14 | 8 | 16 | 5 | 11 | 20 | 10 | 10 | 9 | 9 | 9 | 9 | 10 | 10 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $101.26M | $87.64M | - | - | $70.22M | $60.21M | $53.37M |
| Avg Forecast | $374.75M | $386.47M | $350.64M | $275.56M | $316.20M | $318.27M | $284.51M | $237.67M | $277.78M | $299.69M | $277.93M | $216.79M | $206.36M | $216.24M | $203.63M | $165.04M | $174.53M | $173.56M | $154.55M | $86.86M | $154.12M | $141.23M | $134.70M | $68.66M | $98.34M | $90.89M | $30.03M | $62.42M | $45.28M | $51.37M |
| High Forecast | $456.97M | $471.25M | $427.57M | $336.01M | $385.57M | $388.09M | $346.93M | $289.81M | $338.72M | $365.43M | $338.90M | $264.35M | $251.63M | $263.68M | $248.31M | $201.25M | $212.82M | $211.64M | $182.39M | $104.23M | $193.62M | $169.47M | $164.25M | $82.39M | $119.91M | $110.83M | $36.03M | $74.90M | $52.32M | $61.64M |
| Low Forecast | $288.81M | $297.83M | $270.22M | $212.36M | $243.68M | $245.27M | $219.26M | $183.16M | $214.07M | $230.95M | $214.18M | $167.07M | $159.03M | $166.65M | $156.93M | $127.19M | $134.50M | $133.76M | $115.60M | $69.49M | $125.40M | $108.53M | $103.80M | $54.93M | $75.78M | $70.05M | $24.02M | $49.94M | $35.27M | $41.09M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.47% | 0.89% | - | - | 1.13% | 1.33% | 1.04% |
Sunnova Energy's average Quarter SG&A projection for Jul 23 is $134.70M, based on 10 Wall Street analysts, with a range of $103.80M to $164.25M. The forecast indicates a 33.02% rise compared to NOVA last annual SG&A of $101.26M (Mar 23).
Sunnova Energy EPS Forecast
| Dec 28 | Oct 28 | Jul 28 | Mar 28 | Dec 27 | Oct 27 | Jul 27 | Mar 27 | Dec 26 | Oct 26 | Jul 26 | Mar 26 | Dec 25 | Oct 25 | Jul 25 | Mar 25 | Dec 24 | Oct 24 | Jul 24 | Mar 24 | Dec 23 | Oct 23 | Jul 23 | Mar 23 | Dec 22 | Oct 22 | Jul 22 | Mar 22 | Dec 21 | Sep 21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 13 | 7 | 7 | 9 | 14 | 8 | 8 | 10 | 14 | 8 | 8 | 10 | 13 | 7 | 7 | 9 | 14 | 8 | 16 | 5 | 11 | 20 | 10 | 10 | 9 | 9 | 9 | 9 | 10 | 10 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $-0.96 | $-0.54 | - | - | $-0.30 | $-0.28 | $-0.25 |
| Avg Forecast | $-0.11 | $-0.07 | $-0.13 | $-0.35 | $-0.28 | $-0.30 | $-0.34 | $-0.42 | $-0.42 | $-0.25 | $-0.28 | $-0.55 | $-0.60 | $-0.51 | $-0.48 | $-0.75 | $-0.65 | $-0.52 | $-0.62 | $-0.82 | $-0.26 | $-0.33 | $-0.37 | $-0.54 | $-0.44 | $-0.29 | $-0.29 | $-0.38 | $-0.33 | $-0.30 |
| High Forecast | $-0.08 | $-0.05 | $-0.09 | $-0.25 | $-0.20 | $-0.21 | $-0.24 | $-0.29 | $-0.29 | $-0.18 | $-0.20 | $-0.39 | $-0.42 | $-0.36 | $-0.34 | $-0.53 | $-0.46 | $-0.36 | $-0.30 | $-0.57 | $0.28 | $3.18 | $-0.26 | $-0.38 | $-0.31 | $-0.20 | $-0.20 | $-0.27 | $-0.24 | $-0.21 |
| Low Forecast | $-0.14 | $-0.09 | $-0.17 | $-0.45 | $-0.36 | $-0.39 | $-0.44 | $-0.54 | $-0.54 | $-0.32 | $-0.36 | $-0.71 | $-0.77 | $-0.65 | $-0.62 | $-0.96 | $-0.83 | $-0.67 | $-0.93 | $-1.05 | $-0.87 | $-1.18 | $-0.48 | $-0.70 | $-0.56 | $-0.37 | $-0.37 | $-0.46 | $-0.40 | $-0.36 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.77% | 1.24% | - | - | 0.79% | 0.84% | 0.84% |
According to undefined Wall Street analysts, Sunnova Energy's projected average Quarter EPS for undefined is $NaN, with a low estimate of $NaN and a high estimate of $NaN. This represents a NaN% decrease compared to NOVA previous annual EPS of $NaN (undefined).
Sunnova Energy Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| SPWR | SunPower | $2.80 | $17.50 | 525.00% | Hold |
| SEDG | SolarEdge | $39.86 | $232.38 | 482.99% | Buy |
| NOVA | Sunnova Energy | $5.33 | $26.52 | 397.56% | Buy |
| RUN | Sunrun | $13.26 | $41.64 | 214.03% | Buy |
| MAXN | Maxeon Solar | $1.36 | $3.75 | 175.74% | Sell |
| ENPH | Enphase Energy | $124.61 | $216.17 | 73.48% | Buy |
| JKS | JinkoSolar | $23.61 | $38.75 | 64.13% | Hold |
| CSIQ | Canadian Solar | $17.04 | $24.00 | 40.85% | Buy |
| NXT | Nextracker | $59.25 | $56.08 | -5.35% | Buy |
| FSLR | First Solar | $273.61 | $221.16 | -19.17% | Buy |
NOVA Forecast FAQ
Is Sunnova Energy a good buy?
Yes, according to 15 Wall Street analysts, Sunnova Energy (NOVA) is considered a 'Buy'. The rating consensus is based on 1 'Strong Buy' and 9 'Buy' recommendations, accounting for 66.67% of NOVA's total ratings.
What is NOVA's price target?
Sunnova Energy (NOVA) average price target is $26.52 with a range of $4 to $65, implying a 397.56% from its last price of $5.33. The data is based on 15 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Sunnova Energy stock go up soon?
According to Wall Street analysts' prediction for NOVA stock, the company can go up by 397.56% (from the last price of $5.33 to the average price target of $26.52), up by 1119.51% based on the highest stock price target, and down by -24.95% based on the lowest stock price target.
Can Sunnova Energy stock reach $8?
NOVA's average twelve months analyst stock price target of $26.52 supports the claim that Sunnova Energy can reach $8 in the near future.
What is Sunnova Energy's current price target trend?
2 Wall Street analysts forecast a $7.25 price target for Sunnova Energy (NOVA) this month, up 36.02% from its last price of $5.33. Compared to the last 3 and 12 months, the average price target increased by 44.28% and increased by 159.47%, respectively.
What are Sunnova Energy's analysts' financial forecasts?
Sunnova Energy's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $1.68B (high $2.05B, low $1.29B), average EBITDA is $434.95M (high $530.37M, low $335.19M), average net income is $-165M (high $-116M, low $-212M), average SG&A $1.16B (high $1.41B, low $891.37M), and average EPS is $-1.34 (high $-0.94, low $-1.722). NOVA's analysts financial forecasts for the fiscal year (Dec 2028) are as follows: average revenue is $2.01B (high $2.46B, low $1.55B), average EBITDA is $521.73M (high $636.19M, low $402.07M), average net income is $-81.11M (high $-56.928M, low $-104M), average SG&A $1.39B (high $1.69B, low $1.07B), and average EPS is $-0.66 (high $-0.463, low $-0.848).
Did the NOVA's actual financial results beat the analysts' financial forecasts?
Based on Sunnova Energy's last annual report (Dec 2022), the company's revenue was $557.69M, beating the average analysts forecast of $427.88M by 30.34%. Apple's EBITDA was $117.99M, beating the average prediction of $100.37M by 17.55%. The company's net income was $-130M, missing the average estimation of $-135M by -3.62%. Apple's SG&A was $302M, beating the average forecast of $281.67M by 7.22%. Lastly, the company's EPS was $-1.14, missing the average prediction of $-1.39 by -18.01%. In terms of the last quarterly report (Mar 2023), Sunnova Energy's revenue was $161.7M, beating the average analysts' forecast of $153.16M by 5.57%. The company's EBITDA was $15.55M, missing the average prediction of $24.1M by -35.47%. Sunnova Energy's net income was $-110M, beating the average estimation of $-32.837M by 236.04%. The company's SG&A was $101.26M, beating the average forecast of $68.66M by 47.48%. Lastly, the company's EPS was $-0.96, beating the average prediction of $-0.542 by 77.13%