Jefferies Reaffirms Their Buy Rating on Enphase Energy (ENPH)

In a report released today, Julien Dumoulin Smith from Jefferies maintained a Buy rating on Enphase Energy, with a price target of $54.00.

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Dumoulin Smith covers the Utilities sector, focusing on stocks such as CMS Energy, NextEra Energy, and American Electric Power. According to TipRanks, Dumoulin Smith has an average return of 9.2% and a 62.90% success rate on recommended stocks.

In addition to Jefferies, Enphase Energy also received a Buy from Goldman Sachs’s Brian K. Lee in a report issued on March 12. However, today, TipRanks – OpenAI reiterated a Hold rating on Enphase Energy (NASDAQ: ENPH).

Based on Enphase Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $343.32 million and a net profit of $38.71 million. In comparison, last year the company earned a revenue of $382.71 million and had a net profit of $62.16 million

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ENPH in relation to earlier this year. Earlier this month, Thurman Rodgers, a Director at ENPH sold 137,250.00 shares for a total of $5,985,472.50.