Enphase Energy (ENPH) Stock Moves -0.8%: What You Should Know

Enphase Energy (ENPH) closed at $58.01 in the latest trading session, marking a -0.8% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.91%. Meanwhile, the Dow experienced a drop of 1.5%, and the technology-dominated Nasdaq saw a decrease of 1.96%.Shares of the solar technology company have depreciated by 4.32% over the course of the past month, underperforming the Oils-Energy sector's loss of 4.23% and outperforming the S&P 500's loss of 7.38%.Market participants will be closely following the financial results of Enphase Energy in its upcoming release. In that report, analysts expect Enphase Energy to post earnings of $0.70 per share. This would mark year-over-year growth of 100%. In the meantime, our current consensus estimate forecasts the revenue to be $359.08 million, indicating a 36.36% growth compared to the corresponding quarter of the prior year.For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.35 per share and a revenue of $1.54 billion, signifying shifts of +41.35% and +15.7%, respectively, from the last year.Investors should also pay attention to any latest changes in analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.23% lower. Enphase Energy is currently a Zacks Rank #3 (Hold).Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 17.47. This represents a premium compared to its industry's average Forward P/E of 9.22.The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enphase Energy, Inc. (ENPH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks