Enphase Stock Plummets After Dismal Revenue Forecast

No fewer than nine analysts have lowered their price targets in response

Deputy Editor
Apr 26, 2023 at 10:37 AM
facebook X logo linkedin


Analysts are drilling Enphase Energy Inc (NASDAQ:ENPH) with bear notes today, after the energy concern's disappointing current-quarter sales forecast. The company also reported mixed first-quarter results, with lower-than-expected revenue alongside higher-than-anticipated earnings of $1.37 per share.

No fewer than nine analysts have slashed their price targets, including Craig-Hallum to $259 from $315. Overall, analysts are still leaning bullish on Enphase stock. Of the 25 analysts in coverage, 18 carry a "buy" or better, with seven a tepid "hold," while the 12-month consensus price target of $282.69 is a 71.9% premium to current levels. All of this leaves room for additional price-target cuts and/or downgrades.

ENPH is plummeting at last glance, down 25% at $165.47, to trade at its lowest levels since May 2022. This volatility has it on the short sell restricted (SSR) list today. Year-to-date, the equity is down roughly 37%. 

So far, 48,000 calls and 36,000 puts have been exchanged in the options pits, which is 16 times the amount typically seen at this point. The weekly 4/28 180-strike call is the most active contract, followed by the 190-strike call in the same weekly series, with new positions being opened at both. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI