Enphase Energy, Inc. (NASDAQ:ENPH) Receives $97.86 Consensus Price Target from Analysts

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have earned an average rating of “Hold” from the thirty-two ratings firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $95.59.

Several analysts have commented on ENPH shares. Bank of America dropped their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a report on Thursday, November 7th. Barclays lowered their price objective on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley lowered their price objective on shares of Enphase Energy from $93.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. Finally, Truist Financial reiterated a “hold” rating and issued a $65.00 price objective (down from $100.00) on shares of Enphase Energy in a report on Thursday.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $63.47 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market capitalization of $8.58 billion, a P/E ratio of 144.25, a price-to-earnings-growth ratio of 7.87 and a beta of 1.68. The company’s 50 day moving average price is $69.29 and its two-hundred day moving average price is $93.19. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 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%. The business’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter last year, the business posted $0.84 earnings per share. On average, analysts expect that Enphase Energy will post 0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the business. Avior Wealth Management LLC boosted its position in shares of Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 279 shares during the period. UMB Bank n.a. boosted its position in shares of Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares during the period. nVerses Capital LLC acquired a new position in Enphase Energy in the third quarter valued at about $34,000. Stone House Investment Management LLC acquired a new position in Enphase Energy in the third quarter valued at about $34,000. Finally, Quarry LP acquired a new position in Enphase Energy in the third quarter valued at about $37,000. 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.