Goldman Sachs Maintains Enphase Energy Buy Recommendation

By 247patrick Updated Jul 20, 10:50AM EDT · Published Jul 19, 10:25PM EDT

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Goldman Sachs Maintains Enphase Energy Buy Recommendation — © Keikona / iStock via Getty Images

Fintel reports that on July 19, 2023, Goldman Sachs maintained coverage of Enphase Energy (NASDAQ:ENPH) with a Buy recommendation.

Analyst Price Forecast Suggests 40.65% Upside

As of July 6, 2023, the average one-year price target for Enphase Energy is 258.86. The forecasts range from a low of 170.69 to a high of $352.75. The average price target represents an increase of 40.65% from its latest reported closing price of 184.05.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Enphase Energy is 3,242MM, an increase of 23.95%. The projected annual non-GAAP EPS is 5.41.

What is the Fund Sentiment?

There are 1860 funds or institutions reporting positions in Enphase Energy. This is a decrease of 44 owner(s) or 2.31% in the last quarter. Average portfolio weight of all funds dedicated to ENPH is 0.38%, a decrease of 20.34%. Total shares owned by institutions decreased in the last three months by 3.70% to 109,796K shares. The put/call ratio of ENPH is 0.93, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,224K shares representing 3.08% ownership of the company. In it’s prior filing, the firm reported owning 4,132K shares, representing an increase of 2.16%. The firm decreased its portfolio allocation in ENPH by 25.10% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 3,188K shares representing 2.33% ownership of the company. In it’s prior filing, the firm reported owning 3,164K shares, representing an increase of 0.76%. The firm decreased its portfolio allocation in ENPH by 22.59% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 3,172K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 3,142K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in ENPH by 25.71% over the last quarter.

Geode Capital Management holds 2,897K shares representing 2.11% ownership of the company. In it’s prior filing, the firm reported owning 2,846K shares, representing an increase of 1.76%. The firm decreased its portfolio allocation in ENPH by 25.28% over the last quarter.

Invesco holds 2,377K shares representing 1.73% ownership of the company. In it’s prior filing, the firm reported owning 2,633K shares, representing a decrease of 10.75%. The firm decreased its portfolio allocation in ENPH by 93.68% 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.

This article originally appeared on Fintel