Enphase Energy Shares Down 3.07% Amid Analyst Forecast

Enphase Energy Inc (ENPH) shares fell 3.07% on July 11, reaching an intraday low of $41.57. The stock is 67.98% below its 52-week high of $130.08 and 26.17% above its 52-week low of $33.01. Analysts forecast an average target price of $50.02, implying a 20.09% upside from the current price. The estimated GF Value for ENPH in one year is $100.44, suggesting a 141.15% upside.

Enphase Energy Inc (ENPH) shares fell 3.07% on July 11, reaching an intraday low of $41.57. The stock is currently trading at $61.54, which is 67.98% below its 52-week high of $130.08 and 26.17% above its 52-week low of $33.01 [2]. Analysts forecast an average target price of $50.02, implying a 20.09% upside from the current price [2]. The estimated GF Value for ENPH in one year is $100.44, suggesting a 141.15% upside [2].

Enphase Energy ended the recent trading session at $40.94, demonstrating a -3.58% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.07%. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.03% [1]. Shares of the solar technology company have depreciated by 1.85% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.17%, and the S&P 500's gain of 3.94% [1].

Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company's upcoming EPS is projected at $0.62, signifying a 44.19% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $355.7 million, indicating a 17.21% growth compared to the corresponding quarter of the prior year [1].

ENPH's full-year Zacks Consensus Estimates are calling for earnings of $2.44 per share and revenue of $1.43 billion. These results would represent year-over-year changes of +2.95% and +7.19%, respectively [1]. The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% of over 250 industries [1].

Enphase Energy is currently trading at a Forward P/E ratio of 17.43, which denotes no noticeable deviation relative to the industry average Forward P/E of 17.43 [1]. The company boasts a Zacks Rank of #3 (Hold) [1].

References:
[1] https://www.nasdaq.com/articles/enphase-energy-enph-declines-more-market-some-information-investors
[2] https://www.marketbeat.com/stocks/NASDAQ/ENPH/forecast/