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H&R Block Gains From Its DIY Customer Base

Paul Farrell

The company announced that it entered into an agreement to acquire Wave Financial, a small-business financial-solutions platform, for $405 million in cash. Despite Enphase’s significant move since 2017, up 13-fold since January 2017 and over 200% year to date (versus Nasdaq Composite at 18% YTD), we still see upside in the shares as the company is in the process of transforming from a widget (microinverters) supplier to a complete solution provider.