Enphase Energy (NASDAQ:ENPH) Releases Earnings Results, Misses Estimates By $0.13 EPS

Enphase Energy (NASDAQ:ENPH) issued its quarterly earnings data on Tuesday. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.13), Briefing.com reports. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same period in the prior year, the firm posted $0.84 EPS. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. Enphase Energy updated its Q4 2024 guidance to EPS.

Enphase Energy Trading Up 2.0 %

Shares of NASDAQ:ENPH traded up $1.81 on Tuesday, hitting $92.23. The company had a trading volume of 6,544,330 shares, compared to its average volume of 3,726,985. The firm’s 50-day simple moving average is $110.87 and its two-hundred day simple moving average is $112.61. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 47.36, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63.

Analyst Ratings Changes

ENPH has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Bank of America raised their target price on shares of Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. Barclays cut their price target on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. William Blair started coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Finally, Piper Sandler lowered their price target on Enphase Energy from $115.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $121.51.

About Enphase Energy

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.