Enphase Energy, Inc. to Post Q3 2024 Earnings of $0.63 Per Share, B. Riley Forecasts (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities research analysts at B. Riley lowered their Q3 2024 earnings per share (EPS) estimates for Enphase Energy in a research note issued to investors on Wednesday, April 24th. B. Riley analyst C. Souther now anticipates that the semiconductor company will post earnings of $0.63 per share for the quarter, down from their prior forecast of $0.77. B. Riley has a “Buy” rating and a $149.00 price target on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.95 per share.

A number of other brokerages have also recently weighed in on ENPH. Canaccord Genuity Group assumed coverage on Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price target on the stock. Mizuho decreased their price objective on Enphase Energy from $150.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Barclays upgraded Enphase Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $115.00 to $134.00 in a research report on Friday. DZ Bank began coverage on Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 price objective for the company. Finally, Oppenheimer lifted their price target on Enphase Energy from $133.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Enphase Energy currently has an average rating of “Hold” and a consensus target price of $137.41.

Enphase Energy Trading Up 3.8 %

Shares of ENPH opened at $111.93 on Friday. The business’s 50-day moving average price is $118.22 and its 200 day moving average price is $111.90. The stock has a market capitalization of $15.23 billion, a P/E ratio of 58.30, a P/E/G ratio of 3.16 and a beta of 1.47. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The company has a current ratio of 4.16, a quick ratio of 4.19 and a debt-to-equity ratio of 1.30.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%.

Insiders Place Their Bets

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The disclosure for this sale can be found here. Insiders have sold a total of 54,285 shares of company stock valued at $6,148,228 in the last three months. Company insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Bogart Wealth LLC bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in shares of Enphase Energy during the fourth quarter valued at approximately $31,000. YHB Investment Advisors Inc. bought a new stake in shares of Enphase Energy during the first quarter valued at approximately $35,000. Parkside Financial Bank & Trust increased its position in shares of Enphase Energy by 131.3% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 176 shares during the period. Finally, Covestor Ltd increased its position in shares of Enphase Energy by 61.6% during the third quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 133 shares during the period. 72.12% of the stock is currently owned by institutional investors.

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.