Deutsche Bank Aktiengesellschaft Lowers Enphase Energy (NASDAQ:ENPH) Price Target to $42.00

Enphase Energy (NASDAQ:ENPH) had its target price lowered by investment analysts at Deutsche Bank Aktiengesellschaft from $49.00 to $42.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the semiconductor company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 18.61% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group reduced their price target on shares of Enphase Energy from $44.00 to $37.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler reduced their price target on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Oppenheimer reduced their price target on shares of Enphase Energy from $86.00 to $77.00 and set an “outperform” rating on the stock in a research report on Wednesday. KeyCorp reiterated an “underweight” rating and set a $31.00 price target on shares of Enphase Energy in a research report on Tuesday, June 17th. Finally, Bank of America reduced their price target on shares of Enphase Energy from $31.00 to $30.00 and set an “underperform” rating on the stock in a research report on Wednesday. Thirteen analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and an average target price of $55.86.

Enphase Energy Stock Down 0.3%

Shares of NASDAQ ENPH opened at $35.41 on Thursday. The firm’s 50-day simple moving average is $40.95 and its 200 day simple moving average is $52.20. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 27.66 and a beta of 1.67. The company has a quick ratio of 1.77, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. Enphase Energy has a 12-month low of $33.01 and a 12-month high of $130.08.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $363.15 million for the quarter, compared to the consensus estimate of $359.14 million. Enphase Energy had a net margin of 11.78% and a return on equity of 24.55%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. On average, research analysts expect that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently made changes to their positions in the business. Woodline Partners LP bought a new position in shares of Enphase Energy during the 4th quarter worth approximately $557,000. Teacher Retirement System of Texas bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $1,609,000. QRG Capital Management Inc. bought a new position in shares of Enphase Energy during the 1st quarter worth approximately $512,000. Bouvel Investment Partners LLC acquired a new stake in shares of Enphase Energy in the 1st quarter valued at approximately $847,000. Finally, Norges Bank acquired a new stake in shares of Enphase Energy in the 4th quarter valued at approximately $46,339,000. 72.12% of the stock is owned by institutional investors.

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.