Enphase Energy, Inc. (NASDAQ:ENPH) is one of the best performers on the stock market today. At current price of $24.34, the shares have already added 0.6 points (2.53% higher) from its previous close of $23.74. Should you buy or avoid them? The stock sets an active trading volume day with a reported 2946099 contracts so far this session. ENPH shares had a relatively better volume day versus average trading capacity of 5.72 million shares, but with a 95.76 million float and a 12.25% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ENPH stock indicates that the average analyst price target is $30.67 per share. This means the stock has a potential increase of 26.01% from where the ENPH share price has been trading recently which is between $22.33 and $24.1381. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $26. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $40.
During the recent trading session for Enphase Energy, Inc. (NASDAQ:ENPH), the company witnessed their stock rise $2.92 over a week and surge $5.84 from the price 20 days ago. When compared to their established 52-week high of $35.42, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/27/19. The recent low of $4.53 stood for a -31.28% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.96 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for ENPH is set at $30, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Enphase Energy, Inc., the two-week RSI stands at 64.99. This figure suggests that ENPH stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ENPH readings is similarly very revealing as it has a stochastic reading of 90.17% at this stage. This figure means that ENPH share price today is being oversold.
Technical chart claims that Enphase Energy, Inc. (ENPH) would settle between $24.48/share to $25.21/share level. However, if the stock price goes below the $22.67 mark, then the market for Enphase Energy, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $21.59 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.64. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Goldman, assumed coverage of ENPH assigning Buy rating, according to their opinion released on December 03. JP Morgan, analysts launched coverage of Enphase Energy, Inc. (NASDAQ:ENPH) stock with a Overweight recommendation, according to their flash note issued to investors on September 16. Analysts at H.C. Wainwright released an upgrade from Neutral to Buy for the stock, in a research note that dated back to July 31.
ENPH equity has an average rating of 2.7, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 7 analysts rated Enphase Energy, Inc. (NASDAQ:ENPH) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ENPH stock price is currently trading at 24.35X forward 12-month Consensus EPS estimates, and its P/E ratio is 65.9 while for the average stock in the same group, the multiple is 28.6. Enphase Energy, Inc. current P/B ratio of 19.1 means it is trading at a premium against its industry’s 6.7.
Enphase Energy, Inc. (ENPH)’s current-quarter revenues are projected to climb by nearly 122.1% to hit $204970, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 95.9% from $316160 to a noteworthy $619340. At the other end of the current quarter income statement, Enphase Energy, Inc. is expected to see its adjusted earnings surge by roughly 700% to hit $0.32 per share. For the fiscal year, ENPH’s earnings are projected to climb by roughly 780% to hit $0.88 per share.