Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Is Enphase stock worth buying on post-earning dip?

By: Invezz
is enphase stock worth buying on post earnings dip

Enphase Energy Inc (NASDAQ: ENPH) has lost about 20% in just over two months but a Guggenheim analyst warns it has room to sink further. 

Enphase stock could tank another 15%

Joseph Osha downgraded the solar stock this morning to “sell” and lowered his price target to $92 which signals another 15% downside. 

He turned dovish on Enphase stock after its management cited weaker demand for solar solutions in the United States and reported disappointing earnings for the first quarter. 

More importantly, the Nasdaq-listed firm expects weakness to persist considering its guidance for the current quarter failed to impress as well. 

Note that $ENPH does not pay a dividend either at writing. 

Watch here: https://www.youtube.com/embed/dGNaRZVCsXg?feature=oembedAre Enphase shares currently overvalued?

Joseph Osha sees Enphase stock as overvalued following its Q1 earnings and muted guidance. His research note reads:

As the process of excess channel inventory draw down proceeds, we think it’s going to become apparent that the market is overvaluing any reasonable recovery scenario for $ENPH business.

It is worth mentioning here that shares of the energy technology company based out of Fremont, California have failed to meaningfully break above their 200-day MA since the start of 2024. 

enphase stock price forecast

Other than Guggenheim, analysts at Jefferies also downgraded Enphase today to “hold”. Their $111 price objective hardly suggests any upside from here. 

The post Is Enphase stock worth buying on post-earning dip? appeared first on Invezz

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.