Enphase Energy Shares Surge 16% as Analysts Upgrade Ratings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Source: stocktwits
- Market Share Recovery: Goldman Sachs upgraded Enphase Energy from 'Neutral' to 'Buy', raising the price target from $29 to $45, anticipating that the company will benefit from strong demand and market share gains in Q4, indicating future growth potential.
- Strong Stock Performance: Enphase Energy's shares surged nearly 16% this week, with a 12.5% increase on Thursday alone, marking its best performance in seven months, reflecting investor optimism ahead of the upcoming quarterly earnings report.
- Retail Sentiment Surge: According to Stocktwits, retail sentiment on Enphase Energy jumped from 'Neutral' to 'Extremely Bullish', with a 535% increase in message volume over the past 24 hours, indicating strong market interest in the stock.
- Earnings Expectations: Wall Street estimates that Enphase Energy's Q4 revenue will decline by 10% to $340.44 million, with expected earnings per share of $0.58, down from $0.75 last year, reflecting the cost pressures and market challenges the company faces.
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Analyst Views on ENPH
Wall Street analysts forecast ENPH stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ENPH is 38.35 USD with a low forecast of 26.00 USD and a high forecast of 67.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
6 Buy
10 Hold
5 Sell
Hold
Current: 39.930
Low
26.00
Averages
38.35
High
67.00
Current: 39.930
Low
26.00
Averages
38.35
High
67.00
About ENPH
Enphase Energy, Inc. is a global energy technology company. The Company is a supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power and control it all with a smart mobile application. It designs, develops, manufactures and sells home energy solutions that manage energy generation, energy storage, and control and communications on one intelligent platform. The Enphase Energy System brings a technology, networked approach to solar generation plus energy storage, by leveraging its design expertise across power electronics, semiconductors and cloud-based software technologies. The Enphase Energy System, powered by IQ Microinverters, IQ Batteries and other products and services, is an integrated solar, storage and energy management offering that enables self-consumption. The Company also offers a predictive software platform dedicated to simplifying the cleantech service landscape.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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