Overview
- Shares jumped as much as 42% intraday on Feb. 4 and closed up 38.6% at $51.67.
- Enphase projected first-quarter revenue of $270 million to $300 million, above analysts’ estimates that were below the low end of that range.
- Management reported the strongest demand in more than two years, driven largely by customers accelerating installations ahead of a tax-credit expiration.
- Even the high end of the guidance implies nearly a 16% revenue decline from the same quarter a year earlier.
- Despite the surge, the stock is down about 77% over three years, and RBC and Wells Fargo upgraded the shares to outperform with higher price targets.