.jpg "Enphase Energy (NASDAQ: ENPH)")
After Cowen & Co. and B.Riley FBR gave Enphase Energy (NASDAQ: ENPH) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Amit Dayal maintained a Buy rating on Enphase Energy today. The company’s shares closed yesterday at $8.87, close to its 52-week high of $9.12.
Dayal said:
“We believe key drivers for 2019 include: (1) continued expansion of IQ7 sales globally; and (2) growth in integrated AC module (ACM) sales through various partnerships. The IQ8 microinverters, based on the company’s grid-agnostic Ensemble technology should provide significant upside to the story in the mid to long term.”
According to TipRanks.com, Dayal has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.5% and a 41.3% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.
Currently, the analyst consensus on Enphase Energy is a Strong Buy with an average price target of $9.17, a 3.4% upside from current levels. In a report released yesterday, B.Riley FBR also maintained a Buy rating on the stock with a $9 price target.
See today’s analyst top recommended stocks >>
Based on Enphase Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $709K. In comparison, last year the company had a GAAP net loss of $2.94 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Enphase Energy, Inc. engages in the design, development, manufacture, and sale of microinverter systems for the solar photovoltaic industry. Its products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories, and Enlighten and Apps.
