Enphase Energy Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:ENPH)
Shares of Enphase Energy (NASDAQ:ENPH) have been given a consensus recommendation of “Buy” by the seven ratings firms that are currently covering the company, American Banking & Market News reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.00.
Several analysts have recently commented on the stock. Analysts at Imperial Capital raised their price target on shares of Enphase Energy from $12.00 to $13.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 6th. They now have a $12.00 price target on the stock, up previously from $11.00. Finally, analysts at Roth Capital raised their price target on shares of Enphase Energy from $10.00 to $15.00 in a research note on Wednesday, August 6th.
Shares of Enphase Energy (NASDAQ:ENPH) opened at 11.22 on Wednesday. Enphase Energy has a 1-year low of $4.54 and a 1-year high of $12.19. The stock’s 50-day moving average is $9.96 and its 200-day moving average is $8.45. The company’s market cap is $481.8 million.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $82.00 million for the quarter, compared to the consensus estimate of $71.11 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. Analysts expect that Enphase Energy will post $0.04 EPS for the current fiscal year.
Enphase Energy, Inc (NASDAQ:ENPH), designs, develops and sells microinverter systems for the solar photovoltaic industry.
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