#1 - Enphase Energy (NASDAQ:ENPH)
If you’re a fan of marketing, then I can give you a good reason why Enphase Energy (NASDAQ: ENPH) tops my list of solar stocks to buy. The company is solving one of the key issues that limit solar power acceptance. And anytime a company does that, it gives customers a reason to buy beyond price.
In this case, Enphase uses microinverter technology which converts direct current (DC) power from solar panels to alternating current (AC) power. The use case is as follows. Solar power does not generate in the evening and on cloudy days. Converting solar energy to AC power allows solar power to be stored and efficiently used at times when solar power is not being generated.
In addition to benefiting consumers, the company’s technology is also being embraced by installers because it doesn’t require a central inverter that could lead to a single-point failure that can take down an entire system.
Investors are concerned about the stock’s valuation. However, according to MarketBeat data on Enphase Energy, the stock may have a 20% upside from its current price of approximately $154. Analysts like the company’s accelerating revenue which for the first half of 2021 has nearly eclipsed the company’s total revenue for all of 2019.
About Enphase Energy
Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.
Read More - Current Price
- $114.32
- Consensus Rating
- Hold
- Ratings Breakdown
- 16 Buy Ratings, 13 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $133.45 (16.7% Upside)
