Enphase Energy (NASDAQ:ENPH) Given New $72.00 Price Target at Citigroup

Enphase Energy (NASDAQ:ENPH) had its target price raised by Citigroup from $71.00 to $72.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other equities analysts also recently commented on the company. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets reduced their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Jefferies Financial Group lowered shares of Enphase Energy from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. 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 report on Wednesday, October 23rd. Finally, Piper Sandler lowered their price target 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. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $97.86.

Enphase Energy Stock Performance

Enphase Energy stock opened at $69.66 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm’s fifty day moving average price is $71.13 and its 200 day moving average price is $94.68. The company has a market capitalization of $9.41 billion, a price-to-earnings ratio of 158.32, a price-to-earnings-growth ratio of 22.03 and a beta of 1.68. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. During the same period in the prior year, the firm earned $0.84 EPS. The business’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, research analysts forecast that Enphase Energy will post 0.94 EPS for the current fiscal year.

Institutional Trading of Enphase Energy

A number of hedge funds have recently modified their holdings of ENPH. Benjamin Edwards Inc. increased its stake in shares of Enphase Energy by 2.8% in 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 last quarter. Green Alpha Advisors LLC increased its stake in Enphase Energy by 1.4% in the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after purchasing an additional 102 shares in the last quarter. Centaurus Financial Inc. raised its holdings in Enphase Energy by 10.2% in the second quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 118 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Enphase Energy by 19.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock worth $87,000 after purchasing an additional 125 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in shares of Enphase Energy by 3.9% in the 3rd quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 137 shares during the period. Institutional investors own 72.12% of the company’s stock.

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.