According to Fintel, Citigroup maintained coverage of Enphase Energy (NASDAQ:ENPH) with a Buy recommendation on September 18, 2023.
Analyst Price Forecast Suggests 75.43% Upside
As of August 31, 2023, the average one-year price target for Enphase Energy is $211.05. The forecasts range from a low of $136.35 to a high of $352.75. The average price target represents an increase of 75.43% from its latest reported closing price of $120.30.
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The projected annual revenue for Enphase Energy is $3,242 million, an increase of 15.93%. The projected annual non-GAAP EPS is $5.41.
What is the Fund Sentiment?
There are 1,659 funds or institutions reporting positions in Enphase Energy. This is a decrease of 228 owners or 12.08% in the last quarter. Average portfolio weight of all funds dedicated to ENPH is 0.30%, a decrease of 24.74%. Total shares owned by institutions decreased in the last three months by 6.20% to 103,845,000 shares.
The put/call ratio of ENPH is 0.80, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,286,000 shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 4,224,000 shares, representing an increase of 1.46%. The firm decreased its portfolio allocation in ENPH by 25.43% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 3,263,000 shares representing 2.40% ownership of the company. In its prior filing, the firm reported owning 3,172,000 shares, representing an increase of 2.80%. The firm decreased its portfolio allocation in ENPH by 25.78% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 3,176,000 shares representing 2.34% ownership of the company. In its prior filing, the firm reported owning 3,188,000 shares, representing a decrease of 0.37%. The firm decreased its portfolio allocation in ENPH by 23.82% over the last quarter.
Geode Capital Management holds 2,999,000 shares representing 2.21% ownership of the company. In its prior filing, the firm reported owning 2,897,000 shares, representing an increase of 3.40%. The firm decreased its portfolio allocation in ENPH by 25.41% over the last quarter.
Invesco holds 2,689,000 shares representing 1.98% ownership of the company. In its prior filing, the firm reported owning 2,377,000 shares, representing an increase of 11.58%. The firm increased its portfolio allocation in ENPH by 814.53% over the last quarter.
Enphase Energy Background Information
(This description is provided by the company.)
Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that manage solar generation, storage and communication on one intelligent platform. The Company revolutionized the solar industry with its microinverter technology and produces a fully integrated solar-plus-storage solution. Enphase has shipped more than 32 million microinverters, and approximately 1.4 million Enphase-based systems have been deployed in more than 130 countries.
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This story originally appeared on Fintel.
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