Jeff Osborne, an analyst from TD Cowen, maintained the Buy rating on FTC Solar (FTCI – Research Report). The associated price target remains the same with $5.00.
Jeff Osborne has given his Buy rating due to a combination of factors that highlight FTC Solar’s positive financial trajectory. The company demonstrated strong sequential revenue growth and an improvement in margins during the first quarter of 2025, which exceeded the high end of their guidance. This was achieved despite operating expenses reaching their lowest levels since the IPO, showcasing successful cost reduction initiatives.
Furthermore, FTC Solar’s backlog of $482 million provides solid visibility into future revenue, with expectations of continued growth in the second half of 2025. Although the company’s cash position declined, it is offset by pending financial inflows. The management’s commitment to achieving adjusted EBITDA breakeven by 2025, supported by increased product volumes and improved operating leverage, further underpins Osborne’s optimistic outlook on the stock.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is neutral on the stock.