PREVIEW: Enphase Energy shares rise ahead of earnings

Solar inverter maker Enphase Energy ENPH.O shares surge 3.4% ahead of qtrly results after the bell, with investors focused on robust demand and revenue growth

Analysts expect Q1 rev up 37% to $360.9 mln, with adjusted EPS seen at $0.70 vs $0.35 yr-ago, per LSEG

On February 4, co forecast Q1 rev in range of $340 mln - $380 mln, above analyst estimates

ENPH recently at 15 times expected earnings, suggesting it might be undervalued compared to its avg forward PE of 45 over past five years, per LSEG data

The co's stock has sunk about 22% YTD, underperforming the Nasdaq .IXIC, which fell 15% in the same period

Stock is about 62% below its 52-week intraday high of $141.63 reached on Jun. 12, 2024, indicating significant room for recovery