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The Goldman Sachs Group, Inc. (GS) - free report >>
Barclays PLC (BCS) - free report >>
SunPower Corporation (SPWR) - free report >>
Enphase Energy, Inc. (ENPH) - free report >>
SolarEdge Technologies, Inc. (SEDG) - free report >>
Enphase Energy (ENPH) Plunges Post Earnings: Do You Buy the Dip?
Shares of solar system microinverter maker Enphase Energy (ENPH - Free Report) fell over 14% on Wednesday after reporting Q1 earnings results. The company beat top and bottom-line estimates but Q2 guidance was weaker-than-expected. Enphase forecasts revenue to come in between $300 million and $320 million; the Street was looking for $320.7 million.
President & CEO Badrinarayanan Kothandaraman also said that Q2 shipment volumes will be negatively impacted by the current chip shortage. ENPH’s decline dragged down other solar stocks like SolarEdge (SEDG - Free Report) , Sunrun (RUN - Free Report) , Sunnova (NOVA - Free Report) , and SunPower (SPWR - Free Report) .
But big firms like Goldman Sachs (GS - Free Report) and Barclays (BCS - Free Report) believe today’s dip is a buying opportunity. Goldman said that “demand and margins remain robust,” and Barclays believes that long-term players will “correctly view” this headwind as temporary.
ENPH gained 571% in 2020 but is down more than 15% so far in 2021.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>