Enphase Energy, Inc. (NASDAQ:ENPH) Receives $55.51 Average PT from Analysts

Enphase Energy, Inc. (NASDAQ:ENPH) has been given a consensus rating of “Reduce” by the thirty-six analysts that are currently covering the stock, Marketbeat reports. Thirteen analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $55.2194.

Several equities research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Enphase Energy from $31.00 to $30.00 and set an “underperform” rating for the company in a research report on Wednesday, July 23rd. Piper Sandler dropped their price target on shares of Enphase Energy from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Susquehanna dropped their price target on shares of Enphase Energy from $51.00 to $40.00 and set a “neutral” rating for the company in a research report on Monday, July 21st. KeyCorp reissued an “underweight” rating and issued a $31.00 price objective on shares of Enphase Energy in a research note on Tuesday, June 17th. Finally, BNP Paribas Exane lowered shares of Enphase Energy from a “neutral” rating to an “underperform” rating and set a $40.00 price objective for the company. in a research note on Tuesday, May 13th.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $31.69 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $4.14 billion, a P/E ratio of 24.76 and a beta of 1.59. Enphase Energy has a 12-month low of $31.13 and a 12-month high of $130.08. The business’s 50 day moving average is $39.65 and its two-hundred day moving average is $50.59.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, beating 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 company’s revenue was up 19.7% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Analysts expect that Enphase Energy will post 2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Hedge funds have recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in shares of Enphase Energy by 32.0% during the 1st quarter. Baillie Gifford & Co. now owns 11,052,357 shares of the semiconductor company’s stock worth $685,799,000 after acquiring an additional 2,680,567 shares during the period. Invesco Ltd. lifted its holdings in shares of Enphase Energy by 43.4% during the 4th quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company’s stock worth $313,034,000 after acquiring an additional 1,378,978 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Enphase Energy by 827.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,152,546 shares of the semiconductor company’s stock worth $45,698,000 after acquiring an additional 1,028,259 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Enphase Energy by 9,236.6% during the 1st quarter. AQR Capital Management LLC now owns 691,564 shares of the semiconductor company’s stock worth $41,483,000 after acquiring an additional 684,157 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of Enphase Energy by 531.4% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 805,791 shares of the semiconductor company’s stock worth $55,342,000 after acquiring an additional 678,163 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

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.