Enphase (ENPH) Jumps 38.6% on Strong Profits

We recently published 10 Stocks With Monster Gains. Enphase Energy Inc. (NASDAQ:ENPH) was one of the top performers on Wednesday.

Enphase Energy saw its share prices jump by 38.60 percent on Wednesday to finish at $51.67 apiece as investors took heart from its strong earnings performance last year.

During the period, Enphase Energy Inc. (NASDAQ:ENPH) said that net income surged by 67.6 percent to $172 million from only $102.6 million in 2024, while revenues grew by 10 percent to $1.47 billion from $1.33 billion year-on-year.

However, the fourth quarter saw a 38 percent decline in net income at $38.7 million versus $62.16 million in the same quarter a year earlier. Revenues fell by 10 percent to $343 million from $382.7 million year-on-year, dragged by lower revenues from safe harbor, at only $20.3 million versus $70.9 million in the same comparable period.

Looking into the first quarter of the year, Enphase Energy Inc. (NASDAQ:ENPH) expects revenues to be in the range of $270 million to $300 million, or an implied decline of 16 percent to 24 percent from the $356.1 million in the first quarter of 2025.

In other developments, investment firm RBC Capital turned bullish for Enphase Energy Inc. (NASDAQ:ENPH), upgrading its stock rating to “outperform” from “sector perform” previously, as well as its price target to $54 from $31.

Wells Fargo, for its part, also issued an “outperform” rating for the stock, while raising its price target to $50 from $45 prior.

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Disclosure: None. This article is originally published at Insider Monkey.