Enphase Energy (Nasdaq: ENPH) is expected to report Q2 earnings on Aug. 6. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Enphase Energy's revenues will grow 5.7% and EPS will remain in the red.

The average estimate for revenue is $58.9 million. On the bottom line, the average EPS estimate is -$0.12.

Revenue details
 Last quarter, Enphase Energy notched revenue of $45.6 million. GAAP reported sales were 7.0% higher than the prior-year quarter's $42.6 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 Last quarter, non-GAAP EPS came in at -$0.21. GAAP EPS were -$0.25 for Q1 against -$5.97 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Recent performance
 For the preceding quarter, gross margin was 26.8%, 500 basis points better than the prior-year quarter. Operating margin was -21.3%, 50 basis points better than the prior-year quarter. Net margin was -22.8%, 110 basis points better than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $264.2 million. The average EPS estimate is -$0.26.

Investor sentiment
 The stock has a one-star rating (out of five) at Motley Fool CAPS, with 31 members out of 45 rating the stock outperform, and 14 members rating it underperform. Among 11 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), seven give Enphase Energy a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Enphase Energy is outperform, with an average price target of $8.92.

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