Piper Sandler Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $85.00

by · The Cerbat Gem

Enphase Energy (NASDAQ:ENPH – Free Report) had its price objective cut by Piper Sandler from $105.00 to $85.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other brokerages have also issued reports on ENPH. TD Cowen decreased their price objective on Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group cut Enphase Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Roth Mkm restated a “buy” rating and set a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday, July 24th. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a research report on Wednesday. Finally, William Blair assumed coverage on shares of Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $111.26.

Check Out Our Latest Research Report on Enphase Energy

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $83.83 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The firm has a market capitalization of $11.35 billion, a PE ratio of 190.52, a P/E/G ratio of 8.07 and a beta of 1.72. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The business’s fifty day moving average price is $108.44 and its two-hundred day moving average price is $111.72.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). The firm had revenue of $380.90 million during the quarter, compared to analyst estimates of $392.51 million. Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The firm’s revenue was down 30.9% on a year-over-year basis. During the same period last year, the business earned $0.84 EPS. On average, research analysts expect that Enphase Energy will post 1.18 EPS for the current year.

Institutional Trading of Enphase Energy

Large investors have recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new position in shares of Enphase Energy during the first quarter valued at $272,000. Wealthcare Advisory Partners LLC acquired a new stake in Enphase Energy during the 1st quarter worth about $470,000. Bouvel Investment Partners LLC lifted its position in shares of Enphase Energy by 2.7% in the first quarter. Bouvel Investment Partners LLC now owns 13,807 shares of the semiconductor company’s stock worth $1,670,000 after purchasing an additional 357 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Enphase Energy by 5.2% during the first quarter. AMF Tjanstepension AB now owns 164,546 shares of the semiconductor company’s stock worth $19,907,000 after purchasing an additional 8,190 shares during the period. Finally, SteelPeak Wealth LLC acquired a new position in Enphase Energy in the 1st quarter valued at approximately $592,000. 72.12% of the stock is owned by institutional investors and hedge funds.

Enphase Energy Company Profile

(Get Free Report)

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.

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