Enphase Energy (NASDAQ:ENPH) Given New $70.00 Price Target at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its price objective decreased by Piper Sandler from $85.00 to $70.00 in a research report sent to investors on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the semiconductor company’s stock.

A number of other equities research analysts have also recently commented on ENPH. JPMorgan Chase & Co. cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. HSBC cut shares of Enphase Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $154.00 to $81.00 in a report on Friday, November 8th. The Goldman Sachs Group cut their price target on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Truist Financial cut their price target on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Finally, Hsbc Global Res cut shares of Enphase Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $101.13.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $71.91 on Friday. Enphase Energy has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The company has a 50 day simple moving average of $90.14 and a two-hundred day simple moving average of $105.77. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 163.43, a P/E/G ratio of 20.32 and a beta of 1.77. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results 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 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. During the same period in the prior year, the business posted $0.84 EPS. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. Analysts expect that Enphase Energy will post 0.91 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ENPH. Swedbank AB bought a new stake in Enphase Energy in the 1st quarter valued at $424,130,000. Baillie Gifford & Co. grew its stake in shares of Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock worth $626,683,000 after buying an additional 2,304,408 shares in the last quarter. Electron Capital Partners LLC grew its stake in shares of Enphase Energy by 1,021.4% in 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 in the last quarter. Anomaly Capital Management LP purchased a new position in shares of Enphase Energy in the 2nd quarter worth $51,582,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Enphase Energy in the 1st quarter worth $59,128,000. 72.12% of the stock is currently owned by institutional investors.

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.