Enphase Energy's stock surged 19.64% during pre-market trading, following the release of its fourth-quarter financial results that significantly exceeded analyst expectations.
The energy technology company reported adjusted earnings per share of $0.71 for Q4 2025, beating the consensus estimate of $0.58. Revenue came in at $343.3 million, also surpassing the expected $340.6 million. Additionally, Enphase provided first-quarter 2026 revenue guidance in the range of $270 million to $300 million, which is above the analyst estimate of $262.2 million.
Key drivers for the positive results included increased sell-through demand in the U.S. driven by solar and battery installations ahead of tax credit expiration, as well as recent product launches such as the IQ9N-3P microinverter. Following the earnings release, several analysts raised their price targets on the stock, including JP Morgan increasing its target to $39 from $33 and TD Cowen raising its target to $40 from $35.