Enphase Energy (NASDAQ:ENPH) announced its earnings results on Tuesday. The semiconductor company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.09, Briefing.com reports. The company had revenue of $134.09 million during the quarter, compared to analysts’ expectations of $120.36 million. Enphase Energy’s revenue for the quarter was up 76.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. Enphase Energy updated its Q3 2019 guidance to EPS.
Shares of ENPH stock traded up $6.50 during mid-day trading on Wednesday, hitting $28.15. The stock had a trading volume of 21,951,197 shares, compared to its average volume of 2,825,600. Enphase Energy has a 12-month low of $3.70 and a 12-month high of $28.93. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -234.58 and a beta of 0.92. The stock has a 50-day moving average of $19.09. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 4.63.
A number of equities analysts have recently commented on ENPH shares. TheStreet upgraded Enphase Energy from a “c” rating to a “b-” rating in a report on Tuesday, May 21st. Deutsche Bank upgraded Enphase Energy from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded Enphase Energy from a “hold” rating to a “strong-buy” rating and set a $23.00 target price for the company in a report on Monday, July 8th. Craig Hallum reiterated a “buy” rating and issued a $31.00 target price (up previously from $25.00) on shares of Enphase Energy in a report on Wednesday. Finally, Oppenheimer lifted their target price on Enphase Energy from $13.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Enphase Energy presently has an average rating of “Buy” and a consensus price target of $22.50.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.
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