Solar leader’s stock slides amid mixed forecasts and legal risk

Enphase Energy’s share price has fallen sharply over the past three years and now trades well below its recent 52-week high, with additional pressure from a sector-wide selloff after weak Sunrun guidance. Analysts and tools are dissecting its valuation versus peers like SolarEdge and First Solar, weighing solid 2025 fundamentals ($1.5B revenue, ~47% gross margin) against a recent revenue decline and split analyst price targets. A pending securities fraud class action alleging misleading statements adds legal overhang, making ENPH a high-debate solar stock where investors are reassessing risk, growth prospects, and whether current levels are a bargain or a warning sign.