Enphase Energy Q3 Earnings Preview: Is Stock A Value Play At Current Prices?
Portfolio Pulse from Surbhi Jain
Enphase Energy (ENPH) is set to report its Q3 earnings after market close on Thursday. The company's stock has declined by almost 62% YTD, impacted by rival SolarEdge Technology's (SEDG) stagnant European sales. Analysts expect ENPH to report $1.03 in EPS for the quarter and $566.02 million in revenue. The consensus price target stands at $180.58 a share, representing a significant upside from current price levels. ENPH's shares are down almost 20% over the past month, trading at $96.16 at the time of publication.
October 26, 2023 | 4:31 pm
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NEUTRAL IMPACT
Enphase Energy's Q3 earnings report is expected to impact its stock price. The company's stock has been on a decline, down almost 62% YTD. However, analysts expect a strong earnings report with an EPS of $1.03 and revenue of $566.02 million.
Enphase Energy's stock has been on a decline this year, largely due to stagnant European sales of its rival SolarEdge. However, analysts expect a strong Q3 earnings report, which could potentially influence the stock's price. The consensus price target suggests a significant upside from the current price levels.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SolarEdge Technology's stagnant European sales have impacted Enphase Energy's stock price. As the two companies represent a duopoly in the U.S. solar inverter market, events around SEDG have a direct impact on ENPH.
SolarEdge's stagnant European sales have had a negative impact on Enphase Energy's stock price. Given the duopoly of these two companies in the U.S. solar inverter market, any negative news around SolarEdge is likely to impact Enphase as well.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60