Enphase closed the trading day at $210.78. Ideally you bought in under $200, but that doesn’t mean you should sit out now that it has risen to $210 because Janney has a Buy rating and price target of $282. Moreover, the top of its current trendline is well above $300, so it could spring up quickly if enough institutions agree with Janney’s Buy rating.
Enphase is one of the only tech stocks with a lot of short-term upside. Others I am looking at include Exela, Bill.com, Lyft, and NextEra Energy. You may wish to split the money between them and take profits from the ones that rise significantly first and reallocate to some of the others if they remain low. That said, Bill.com hasn’t been upgraded yet. Lyft hasn’t been upgraded yet either. And though it has dipped, NextEra Energy hasn’t been upgraded either. So Enphase is where you want most of your money and don’t expect much from others in the short term.
Enphase has a market cap of 29.48 billion and a forward P/E of 28.72. Enphase is one of the rare growth stocks in tech that is also highly profitable. Enphase has a gross margin of 41.80%, an operating margin of 19.20%, and a profit margin of 17.00%.
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