why Enphase Energy Inc. [ENPH] is a Good Choice for Investors After New Price Target of $298.48

Enphase Energy Inc. [NASDAQ: ENPH] slipped around -5.9 points on Wednesday, while shares priced at $218.31 at the close of the session, down -2.63%. The company report on March 6, 2023 that Enphase Energy Expands IQ8 Microinverter Deployments in Illinois.

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Enphase Energy Inc. stock is now -17.61% down from its year-to-date (YTD) trading value. ENPH Stock saw the intraday high of $223.58 and lowest of $213.66 per share. The company’s 52-week high price is 339.92, which means current price is +11.24% above from all time high which was touched on 01/03/23.

Compared to the average trading volume of 4.07M shares, ENPH reached a trading volume of 3161431 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Enphase Energy Inc. [ENPH]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ENPH shares is $298.48 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ENPH stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Scotiabank have made an estimate for Enphase Energy Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on March 02, 2023. The new note on the price target was released on February 27, 2023, representing the official price target for Enphase Energy Inc. stock. Previously, the target price had yet another raise to $238, while Janney analysts kept a Neutral rating on ENPH stock. On January 25, 2023, analysts decreased their price target for ENPH shares from 350 to 255.

The Average True Range (ATR) for Enphase Energy Inc. is set at 10.78, with the Price to Sales ratio for ENPH stock in the period of the last 12 months amounting to 12.40. The Price to Book ratio for the last quarter was 36.02, with the Price to Cash per share for the same quarter was set at 12.18. Price to Free Cash Flow for ENPH in the course of the last twelve months was 41.39 with Quick ratio for the last quarter at 3.30.

How has ENPH stock performed recently?

Enphase Energy Inc. [ENPH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.52. With this latest performance, ENPH shares dropped by -2.10% in over the last four-week period, additionally sinking by -25.45% over the last 6 months – not to mention a rise of 37.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ENPH stock in for the last two-week period is set at 49.97, with the RSI for the last a single of trading hit 54.19, and the three-weeks RSI is set at 46.86 for Enphase Energy Inc. [ENPH]. The present Moving Average for the last 50 days of trading for this stock 226.85, while it was recorded at 219.32 for the last single week of trading, and 254.25 for the last 200 days.

Enphase Energy Inc. [ENPH]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Enphase Energy Inc. [ENPH] shares currently have an operating margin of +19.42 and a Gross Margin at +41.14. Enphase Energy Inc.’s Net Margin is presently recorded at +17.05.

Return on Equity for this stock inclined to 63.29, with Return on Assets sitting at 15.39.

Enphase Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.50.

Earnings analysis for Enphase Energy Inc. [ENPH]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ENPH. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Enphase Energy Inc. go to 20.05%.

Insider trade positions for Enphase Energy Inc. [ENPH]

There are presently around $22,578 million, or 81.20% of ENPH stock, in the hands of institutional investors. The top three institutional holders of ENPH stocks are: VANGUARD GROUP INC with ownership of 15,686,222, which is approximately 1.942% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 14,133,742 shares of the stock with an approximate value of $3.09 billion in ENPH stocks shares; and STATE STREET CORP, currently with $1.13 billion in ENPH stock with ownership of nearly -1.306% of the company’s market capitalization.

Positions in Enphase Energy Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 531 institutional holders increased their position in Enphase Energy Inc. [NASDAQ:ENPH] by around 10,500,262 shares. Additionally, 409 investors decreased positions by around 9,166,051 shares, while 100 investors held positions by with 83,757,560 shares. The mentioned changes placed institutional holdings at 103,423,873 shares, according to the latest SEC report filing. ENPH stock had 159 new institutional investments in for a total of 1,675,132 shares, while 85 institutional investors sold positions of 710,765 shares during the same period.


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