Oppenheimer maintains EnerNOC Inc.'s Perform Rating

Oppenheimer published its quarterly update on EnerNOC, Inc. today and maintained its Perform rating. EnerNOC's 3Q10 EPS of $1.67 and net income of $43.9MM were higher that Oppenheimer's estimates of $1.58 and $41.4MM. EnerNOC also reported operating expenses of $25.9MM which were lower than the estimate of $28.1MM. Although 3Q10 numbers were better than expected, EnerNOC updated its 4Q10 and FY10 guidance which were below Oppenheimer's estimates. Oppenheimer has lowered their 2011 estimate from $0.91 to $0.79. EnerNOC is currently trading at $24.62.