Fintel reports that on December 15, 2023, Jefferies initiated coverage of Enphase Energy (NASDAQ:ENPH) with a Buy recommendation.
Analyst Price Forecast Suggests 3.53% Downside
As of December 16, 2023, the average one-year price target for Enphase Energy is 119.54. The forecasts range from a low of 65.65 to a high of $267.75. The average price target represents a decrease of 3.53% from its latest reported closing price of 123.92.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Enphase Energy is 3,242MM, an increase of 19.50%. The projected annual non-GAAP EPS is 5.41.
What is the Fund Sentiment?
There are 1652 funds or institutions reporting positions in Enphase Energy. This is a decrease of 7 owner(s) or 0.42% in the last quarter. Average portfolio weight of all funds dedicated to ENPH is 0.26%, a decrease of 11.28%. Total shares owned by institutions decreased in the last three months by 0.02% to 103,828K shares. 
The put/call ratio of ENPH is 0.77, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,033K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 4,286K shares, representing a decrease of 6.29%. The firm decreased its portfolio allocation in ENPH by 29.94% over the last quarter.
Invesco holds 3,292K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 2,689K shares, representing an increase of 18.34%. The firm decreased its portfolio allocation in ENPH by 91.54% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,276K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 3,263K shares, representing an increase of 0.41%. The firm decreased its portfolio allocation in ENPH by 26.24% over the last quarter.
Geode Capital Management holds 3,051K shares representing 2.24% ownership of the company. In it's prior filing, the firm reported owning 2,999K shares, representing an increase of 1.70%. The firm decreased its portfolio allocation in ENPH by 25.93% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 2,933K shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 3,176K shares, representing a decrease of 8.29%. The firm decreased its portfolio allocation in ENPH by 29.87% 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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
