5 Stocks Drawing Attention After Topping Quarterly Expectations

2. Enphase Energy, Inc. (NASDAQ:ENPH)

Number of Hedge Fund Holders: 52

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) climbed over 12 percent on Wednesday, February 9, 2022, after the energy management technology company surpassed profit and sales expectations for the fourth quarter.

Enphase Energy, Inc. (NASDAQ:ENPH) reported adjusted earnings of 73 cents per share, compared to 51 cents per share in the fourth quarter of 2020. Revenue for the quarter increased to $412.7 million versus $264.8 million in the same period one year ago. The results easily surpassed analysts’ average estimate of 58 cents per share for earnings and $397 million for revenue.

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The company also released its sales outlook for the first quarter. Enphase Energy, Inc. (NASDAQ:ENPH) expects to generate revenue in the range of $420 – $440 million for the current quarter, above the consensus forecast of $409 million.