- Marzo 24, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
American energy technology company, Enphase Energy offers software-driven home energy solutions, which span solar generation, home energy storage, and web-based monitoring and control. Its emphasis remains in the residential and commercial markets of North America, Europe, and Australia. The company has installed over 42 million solar microinverters on over 1.9 million homes to date.
The ENPH stock has gained over 29% in the past month as investors are seeking shelter in clean energy stocks to hedge the looming threat of high oil prices due to the ongoing war in Ukraine. Over the past year, the stock has gained 28.5%.
As per Needham’s forecast, Enphase is expected to post a revenue jump of over 44% for FY22. Non-GAAP earnings of $3.18 per share are projected for FY22, reflecting a jump of 33% annually.
Wall Street analysts have awarded the ENPH stock a Strong Buy consensus rating. That is based on 17 Buys and four Holds. The average Enphase price target of $218.79 implies 15% upside potential to current levels.
