Would it be wise to buy Enphase Energy Inc (ENPH)?

Enphase Energy Inc (ENPH) has been in bull market mode, as demonstrated by the strength of its 200-day and 20-day major moving averages. ENPH shares soared 50.43% over the last 30 days, generating 403.26% growth over the past 12 months. Additionally, it has slipped behind competitors by more than 146.43%.

Based on what Wall Street brokers have to say about the projected price targets for ENPH stock, we get this picture: 21 analysts have predicted ENPH’s price will be $170.75. According to the analysts, the share’s price range in the next year lies between $254.00 and $96.00. With an estimated low of -11.93 below its last price, the stock will lose -101.25% over that period if it falls below the average price target. The stock is expected to hit the high price target with an upside of 23.94%, but the stock’s mean price target is $172.50.

The growth rate of Enphase in 2020 was faster than most growth stocks. The market capitalization of Enphase compares well with other US solar industry players. As of mid-2017, Enphase is valued at over $24 billion, up from $75 million two years earlier. Additionally, the company’s position in the inverter market was not strong due to strong competitor pressure.

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The company doubled its revenue in 2018 and 2019. Microinverters, which are connected directly to a solar panel, is a company’s breakthrough. It also increases the overall solar power plant reliability and reduces the time and labor required for installation.

Among the companies that produce equipment for solar energy, Enphase stands out because of its innovative approach. These indicators are used to estimate the price of the company’s shares. The P/S ratio of Enphase’s shares is similar to the ratio of popular companies like Tesla. The gross margin at Enphase is high, surpassing 53 %, comparable to that of semiconductor manufacturers such as the NVDA.

Enphase thereby stands out as an interesting company in some ways. Market participants primarily assess the long-term prospects of the company, which determines the growth of its stock. ENPH shares take advantage of investor optimism about the company’s future, which means increased risk and at the same time, indicates a positive assessment of the company’s innovative potential.

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