What happened After dropping 6% in July, shares of SolarEdge Technologies (NASDAQ: SEDG) rebounded in August and climbed 12%, according to data provided by S&P Global Market Intelligence. Besides the company's strong second-quarter earnings report, investors warmed up to the solar stock in response to its third-quarter guidance and the positive coverage it received from Wall Street. Image source: Getty Images. So what Beginning the month on an auspicious note, SolarEdge reported Q2 2021 earnings on Aug. 3, beating top- and bottom-line expectations. Whereas analysts estimated the company would report sales of $454.7 million and adjusted earnings per share of $1.12, SolarEdge reported quarterly revenue of $480.1 million, a company record, and adjusted EPS of $1.28. Addressing the company's unprecedented performance on the conference call, CEO Zvi Lando said, "The record solar revenues reflects strong demand for our solar products across all segments and geographies." Besides the company's recent past performance, management's sunny revenue forecast for the third quarter, $520 million to $540 million, inspired investors to hit the buy button. If SolarEdge achieves the midpoint of this guidance, it will represent year-over-year growth of about 57%. Some positive attention from Wall Street in early August provided additional motivation for investors. Piper Sandler raised its price target to $351 from $342 and maintained an overweight rating. Goldman Sachs hiked its price target to $368 from $322 while keeping a buy rating. Citi upgraded the stock to buy from neutral, setting a $360 price target. With shares of SolarEdge plunging 19% from the start of the year through July, the analysts' optimistic takes on the stock likely inspired SolarEdge bears who had thought the stock no longer had room to run. Now what A compelling option for solar investors, SolarEdge is a market leader that turned in an impressive performance in the second quarter -- and will possibly do so in the third quarter as well. While the tide of bullish sentiment from Wall Street may be a welcome sign for would-be investors, it's important to recognize that analysts oftentimes have shorter investing horizons than the multi-year holding periods that long-term investors prefer, thus they should be taken with a grain of salt. 10 stocks we like better than SolarEdge TechnologiesWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and SolarEdge Technologies wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 9, 2021 Citigroup is an advertising partner of The Ascent, a Motley Fool company. Scott Levine has no position in any of the stocks mentioned. The Motley Fool recommends SolarEdge Technologies. The Motley Fool has a disclosure policy.Source