Enphase Energy, Inc. (NASDAQ:ENPH) Receives $101.13 Average PT from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has earned an average rating of “Hold” from the thirty-three analysts that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $101.13.

Several research firms recently weighed in on ENPH. Piper Sandler reduced their target price on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Janney Montgomery Scott cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price on the stock. in a research report on Wednesday, October 23rd. Susquehanna dropped their price target on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Canaccord Genuity Group reiterated a “hold” rating and issued a $76.00 price target on shares of Enphase Energy in a report on Tuesday, November 19th. Finally, Bank of America dropped their price objective on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a report on Thursday, November 7th.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $71.35 on Monday. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of 162.16, a price-to-earnings-growth ratio of 21.09 and a beta of 1.77. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average is $86.46 and its two-hundred day moving average is $104.68.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.12). The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 EPS. Research analysts expect that Enphase Energy will post 0.94 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of Enphase Energy during the first quarter worth about $424,130,000. Baillie Gifford & Co. raised its stake in Enphase Energy by 57.9% during the second quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC lifted its holdings in Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP acquired a new position in shares of Enphase Energy in the 2nd quarter worth approximately $51,582,000. Finally, Mizuho Securities USA LLC increased its holdings in shares of Enphase Energy by 4,177.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after acquiring an additional 438,424 shares during the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.