Enphase Energy shares surge 40.50% after hours after Q4 results beat, Q1 forecast raised, and analyst upgrades.

Enphase Energy (ENPH) surged 40.5% in after-hours trading following the release of its Q4 results and Q1 2026 revenue forecast, which exceeded analyst expectations. The company reported $343.3 million in fourth-quarter revenue, a 10% decline year-over-year but above estimates, with an adjusted gross margin of 46.1%. It also projected Q1 2026 revenue of $270–300 million, surpassing consensus, and outlined improved gross margin guidance. Analysts upgraded the stock, with BMO Capital and RBC Capital raising their ratings to Market Perform and Outperform, respectively, citing sequential revenue growth potential and stabilizing demand. The upbeat outlook and institutional support fueled the sharp post-market rally, aligning with broader positive momentum in the solar.