Home Analyst Ratings Goldman Sachs lifts Enphase Energy rating to Buy and price target...

Goldman Sachs lifts Enphase Energy [ENPH] rating to Buy and price target to $232

Goldman Sachs took its Enphase Energy [ENPH] rating to the equivalent of Buy from Neutral, and the ‎price target to $232 from $127, in a research note dated 2021-01-05. That figure represents around a ‎‎34.7% premium from where the company’s shares closed on Monday. Other analysts also revised their ‎coverage, with Needham’s analysts reiterating the shares to “a Buy” rating in a research note to ‎investors issued in late October. Meanwhile, Craig Hallum had lowered its rating on ENPH to “Hold” ‎from the earlier “Buy”, in a research note produced for clients October 28, 2020. In addition, ‎Susquehanna launched coverage on October 15, 2020. The research firm rated ENPH “a Positive”.

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Is Enphase Energy Inc. [NASDAQ:ENPH] a Good ‎Buy Right Now?

It should be noted that ENPH technical indicators for short, intermediate as well ‎as long term progress have placed an overall average of 100% as Buy. The average signal changed from ‎‎100% Buy in the last week and compares with 100% Buy in the past month. Data from Enphase Energy ‎Inc.’s Trend Spotter indicated that the signals were Weakening. The stock current average is 2.77 ‎million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 ‎days, the average trading volume was 3.14 million shares while the medium term average advocated ‎for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume ‎stands at 3.29 million shares.


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ENPH Price Performance

On Wall Street, Enphase Energy Inc. ‎‎[NASDAQ:ENPH] finished Monday’s session down -1.84% at $172.24. The stock went up to $179.15 at ‎the same session while its lowest single day price was $167.07. In the last five days, it saw a fall of ‎about -5.04%, Enphase Energy Inc. shares dropped by almost -1.84% since the beginning of the year. ‎However, the share price has dropped to as low as -9.06% below its one year high. On 01/04/21, the ‎company shares recorded $179.15, the highest single-day price it has got to in the last 52-weeks and a ‎‎52-week low was seen on 01/04/21, the same year at $167.07. The company’s shares have inclined by ‎‎488.05% in the past year. The 50-day SMA achieved is $134.32 while the 200-day SMA is $79.22. Volume ‎dropped to 3.88 million from 5.63 million in the previous session.

Enphase Energy Inc. [ENPH] ‎Valuation Measures

Notably, Enphase Energy Inc. [ENPH] stock cannot be classified as a good ‎candidate in the listing of underestimated low-priced Solar companies to purchase soonest possible ‎with the prevailing 12-month PE ratio of 134.98. The measure means the stock is exchanging at a ‎premium as compared to the 32.48x trailing earnings of the industry. It can be helpful for investors to ‎consider historical price-sales ratio, more specifically, a 29.80 PS value ratio is reported for the last one ‎year of reported earnings. That is higher than the industry average of 2.63 which means ENPH serve an ‎unattractive investment opportunity compared to its competitors.

ENPH Stock Support And ‎Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 166.49 level, ‎and in case of violation of this particular level, it will cause more drop to 160.74 level. On the upper ‎level, 184.90 is still the key resistance. The stock may increase to the subsequent resistance at 178.57. ‎The Relative Strength Index (RSI) pinned on the 14-day chart is 66.33, implying a neutral technical ‎stance while the MACD stands at 4.06, meaning price will increase in the next trading period. Percent R ‎indicator moved to 33.23%, implying low price movement. Stochastic %K at 72.45% suggest selling the ‎stock.

What is the short interest in Enphase Energy Inc.?

Short interest in the Enphase ‎Energy Inc. stock has surged, increasing by 0.41 million shares to total 9.18 million shares on Dec 14, ‎‎2020. The interest had seen shares on Nov 12, 2020 stand at 9.59 million, data from Yahoo Finance ‎shows. The decrease of -4.47% suggests the stock saw some decreased bullish sentiment. The stock’s ‎days to cover (short ratio) moved to while the shorted shares account for just 8.61% of the overall ‎float for the stock.

Enphase Energy Inc.’s Biggest Shareholders: Who Owns Enphase Energy Inc. ‎‎[ENPH]?

Filings by BlackRock Fund Advisors showed that the firm now holds a total of 10,633,494 ‎shares or roughly 8.42% of the outstanding ENPH shares. This means their shares have increased by ‎‎2,681,442 from the 10,633,494 the investor reportedly held in its prior 13-F filing. With the conclusion of ‎the purchase, The Vanguard Group, Inc. updated stake is worth $1,439,951,470. Details in the latest ‎‎13F filings reveal that Fidelity Management & Research Co disposed off their -31.33% stake valued at ‎‎$955,438,803 while JPMorgan Investment Management, I cut theirs at $673,615,956. During the last ‎quarter, Fidelity Management & Research Co liquidated -3,191,442 of its shares in Enphase Energy Inc. ‎while JPMorgan Investment Management, I sold -1,324,638 shares. The Sylebra Capital Ltd.’s holdings ‎currently number 4,188,531 shares at $721432579.44. According to the firm’s last 13F report, Invesco ‎Capital Management LLC shares in the company at filing stood at 2,685,412 shares, roughly ‎‎$366,746,717.

ENPH Earnings Forecast For The Current Quarter

Enphase Energy Inc. [ENPH] is ‎expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates ‎give the company expected revenues of $255.11M and an earnings per share of $0.4 for Dec 2020. ‎Looking further ahead, the company is expected to report revenue of $261.33M at an EPS of $0.35 for ‎Mar 2021. The estimates represent upside of 62.30% and 45.83% in the company’s revenue and ‎earnings per share, respectively, on a year-on-year basis.

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ENPH Earnings Estimates For The Current Year

For the ‎financial year, Enphase Energy Inc. [NASDAQ:ENPH] is expected to bring in revenue of $765.01M. The ‎returns are nearly $141.68 million higher than the company’s actual revenue recorded in the fiscal year ‎‎2019. In terms of EPS for the 2020, estimate put it at 1.27, higher than that of FY19 by $0.32. Estimates ‎put this year’s earnings growth at 33.70%, 45.70% for the next, and at an annual 36.61% over the next ‎‎5-year period. As for sales, forecasts are for an increase of 22.70% in the current fiscal year and a ‎further 62.30% over the following year.‎

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