
Array Technologies (ARRY) Stock Forecast & Price Target
Array Technologies (ARRY) Analyst Ratings
Bulls say
Array Technologies Inc. has demonstrated a strong positive outlook due to significant growth in its domestic order book, which is estimated to have increased by approximately $300 million to around $1.8 billion in 2024, reflecting over a 20% rise year-over-year. The company has also seen a notable increase in its pipeline of high-probability projects in the U.S., which surged over 60% in 2024, indicating robust demand for its solar tracking systems. Furthermore, with a backlog of $2.0 billion and an EBITDA margin forecasted to stabilize around 19% for CY2024, Array Technologies is well-positioned to sustain topline growth and margin expansion in the growing utility-scale solar market.
Bears say
Array Technologies Inc. has experienced stagnant backlog levels and declining gross bookings and revenues, raising concerns about future growth potential in the competitive solar energy market. Factors contributing to a negative outlook include rising resource inflation, shortages, and uncertainties surrounding utility scale solar project growth, which could limit the company's addressable market. Additionally, mixed financial results for 4Q24 and a conservative FY25 guidance suggest challenges related to customer hesitations on policy changes and potential delays in project timelines, further complicating the company's growth and margin prospects.
This aggregate rating is based on analysts' research of Array Technologies and is not a guaranteed prediction by Public.com or investment advice.
Array Technologies (ARRY) Analyst Forecast & Price Prediction
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