Cash $11,131 Looks like I'll spend more today.
01/21/2022 09:30:02 Bought 9 ENPH @ 131.86 -1,186.74
01/21/2022 09:30:03 Bought 1 ENPH @ 132 -132.00
01/21/2022 09:41:21 Bought 10 ENPH @ 130.86 -1,308.60
01/21/2022 09:53:15 Bought 1 ENPH @ 129.86 -129.86
01/21/2022 09:53:15 Bought 9 ENPH @ 129.86 -1,168.74
01/21/2022 10:01:55 Bought 10 ENPH @ 128.86 -1,288.60
01/21/2022 10:07:05 Bought 10 ENPH @ 127.51 -1,275.10
01/21/2022 10:11:06 Bought 10 ENPH @ 126.01 -1,260.10
01/21/2022 10:20:53 Bought 10 ENPH @ 125.01 -1,250.10
From CFRA: Our opinion is Buy. We see ENPH as one of two leading microinverter firms in the
residential solar space, although, in our view, it is currently behind market leader SolarEdge
Technologies (SEDG 343 ***). That may change as ENPH rolls out its IQ8 product offering. ENPH has
achieved strong operating margins compared to SEDG in five of the last six quarters, but that in
turn has led to richer valuation. We note that our 2022 earnings estimates are above consensus
levels, and applying a modest valuation premium to ENPH’s historical average, we think upside is
attractive.
Our 12-month target price of $249 represents a 2.5x multiple applied to our projected EPS
estimate of $3.43 over the next 12 months. While the applied multiple is 20% above ENPH’s
recent forward P/E average of 60.4x, we think a small premium is reasonable as ENPH has been
making inroads on gaining market share.
Zacks earnings for 2022 are lower at $3.06. 2023 at $4.08 2024 at $5.80. |
