Enphase Energy Inc. (ENPH) shares are trading at lower $101.53 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $80.07.
To add more color to this target, the company’s high over the last year is $118.05 and the low is $17.18. Over the last 52 weeks, ENPH is up 328.22% while the S&P 500 is up 14.62%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, ENPH reported a profit of $10.85 million. Enphase Energy Inc. also saw revenues increase to $125.54 million. In addition, ENPH has free cash flow of $56.85 million as of 06-2020. The company’s EBITDA came in at $14.99 million which compares well with its peers.
ENPH booked profit margins of 23.50%, its Return on Equity (ROE) is 61.00%, and its Return on Assets is 20.80%. All told, it is clear that, ENPH needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ENPH has a short ratio of 3.47 and outstanding shares of 125.60M.
ENPH has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 3.22 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.23. Enphase Energy Inc. ENPH also noted assets of $986.47 million at the end of the last quarter. Investors should also keep an eye on sector updates as ENPH has historically followed its peers on positive news.
All told, Enphase Energy Inc. ENPH has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ENPH represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Enphase Energy Inc. ENPH is now commanding a market cap of 12.78B and a float of 114.92M. ENPH is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ENPH stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in ENPH, either long or short, and we have not been compensated for this article.