Ameet Thakkar, an analyst from BMO Capital, maintained the Sell rating on Enphase Energy. The associated price target remains the same with $31.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Ameet Thakkar has given his Sell rating due to a combination of factors impacting Enphase Energy’s market performance. One of the primary concerns is the company’s declining market share in the U.S. residential sector, particularly due to competition from Tesla’s integrated inverter and battery solutions. The transition to NEM 3.0 and the anticipated elimination of the 25D credit are expected to further reduce demand for residential solar, affecting Enphase’s growth prospects.
Additionally, while Enphase is exploring new growth avenues such as expanding its total addressable market and enhancing its product offerings, these strategies are expected to take time to materialize. The company is also focusing on international opportunities, like the Netherlands, but these efforts are still in early stages. Overall, the anticipated recovery and growth are projected to be slow, with significant improvements not expected until fiscal year 2026, leading to a cautious outlook in the near term.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ENPH in relation to earlier this year.