The Goldman Sachs Group Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $105.00

Enphase Energy (NASDAQ:ENPH) had its target price reduced by The Goldman Sachs Group from $121.00 to $105.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the stock. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $76.00 target price on shares of Enphase Energy in a research note on Tuesday, November 19th. Piper Sandler dropped their price objective on Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Truist Financial reiterated a “hold” rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a report on Thursday, January 16th. JPMorgan Chase & Co. dropped their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Craig Hallum decreased their price objective on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $94.09.

Enphase Energy Stock Down 1.4 %

Shares of Enphase Energy stock opened at $63.36 on Wednesday. The business has a fifty day simple moving average of $69.38 and a 200 day simple moving average of $91.72. The stock has a market cap of $8.56 billion, a PE ratio of 144.00, a price-to-earnings-growth ratio of 7.79 and a beta of 1.68. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. Enphase Energy has a 12 month low of $58.33 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results 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 company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. Enphase Energy’s quarterly revenue was down 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Research analysts predict that Enphase Energy will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC lifted its stake in Enphase Energy by 6,975.0% in the 3rd quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 279 shares during the last quarter. UMB Bank n.a. lifted its position in Enphase Energy by 784.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 259 shares during the last quarter. nVerses Capital LLC acquired a new stake in Enphase Energy during the 3rd quarter worth approximately $34,000. Stone House Investment Management LLC bought a new stake in shares of Enphase Energy in the third quarter valued at about $34,000. Finally, Quarry LP bought a new stake in Enphase Energy in the 3rd quarter valued at about $37,000. 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.