Enphase Energy (NASDAQ:ENPH) Price Target Cut to $85.00

Enphase Energy (NASDAQ:ENPH) had its target price lowered by stock analysts at Piper Sandler from $105.00 to $85.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price target indicates a potential upside of 4.81% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Craig Hallum dropped their price target on shares of Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday. Susquehanna cut shares of Enphase Energy from a “positive” rating to a “neutral” rating and cut their price target for the company from $147.00 to $104.00 in a report on Wednesday, October 16th. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Wednesday. Barclays lowered their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Finally, William Blair began coverage on Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $81.10 on Wednesday. The company has a 50 day simple moving average of $109.09 and a two-hundred day simple moving average of $112.01. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 42.24, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period last year, the business earned $0.84 EPS. The firm’s quarterly revenue was down 30.9% on a year-over-year basis. Analysts expect that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. grew its stake in shares of Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after acquiring an additional 93 shares during the period. Hollencrest Capital Management increased its stake in shares of Enphase Energy by 3.3% in the first quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock worth $374,000 after purchasing an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Enphase Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock valued at $1,165,000 after purchasing an additional 100 shares during the period. Green Alpha Advisors LLC lifted its stake in shares of Enphase Energy by 1.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after buying an additional 102 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its holdings in Enphase Energy by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after buying an additional 106 shares during the period. Institutional investors own 72.12% of the company’s stock.

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.