Fintel reports that on September 21, 2023, Seaport Global upgraded their outlook for Enphase Energy (NASDAQ:ENPH) from Neutral to Buy.
Analyst Price Forecast Suggests 70.24% 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 70.24% from its latest reported closing price of 123.97.
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The projected annual revenue for Enphase Energy is 3,242MM, an increase of 15.93%. The projected annual non-GAAP EPS is 5.41.
What is the Fund Sentiment?
There are 1659 funds or institutions reporting positions in Enphase Energy. This is a decrease of 229 owner(s) or 12.13% in the last quarter. Average portfolio weight of all funds dedicated to ENPH is 0.30%, a decrease of 24.72%. Total shares owned by institutions decreased in the last three months by 6.18% to 103,873K shares. The put/call ratio of ENPH is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,286K shares representing 3.15% ownership of the company. In it’s prior filing, the firm reported owning 4,224K 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 3,263K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 3,172K 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 3,176K shares representing 2.34% ownership of the company. In it’s prior filing, the firm reported owning 3,188K 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 2,999K shares representing 2.21% ownership of the company. In it’s prior filing, the firm reported owning 2,897K shares, representing an increase of 3.40%. The firm decreased its portfolio allocation in ENPH by 25.41% over the last quarter.
Invesco holds 2,689K shares representing 1.98% ownership of the company. In it’s prior filing, the firm reported owning 2,377K 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.
This article originally appeared on Fintel
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