Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $125.00 at Evercore ISI

by · The Markets Daily

Enphase Energy (NASDAQ:ENPH – Get Free Report) had its target price lowered by analysts at Evercore ISI from $133.00 to $125.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Evercore ISI’s price target points to a potential upside of 55.55% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Truist Financial cut their target price on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Citigroup dropped their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday. Canaccord Genuity Group restated a “hold” rating on shares of Enphase Energy in a research report on Wednesday. Barclays lowered their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Oppenheimer cut their target price on Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and an average target price of $115.73.

Read Our Latest Stock Analysis on Enphase Energy

Enphase Energy Price Performance

Shares of ENPH traded down $11.87 during midday trading on Wednesday, hitting $80.36. 11,671,947 shares of the company traded hands, compared to its average volume of 3,768,466. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 5.57 and a beta of 1.72. The firm has a 50 day moving average of $110.47 and a 200-day moving average of $112.47. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS 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 analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s quarterly revenue was down 30.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. On average, analysts forecast that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC raised its holdings in Enphase Energy by 1,068.4% in the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC raised its holdings in shares of Enphase Energy by 2,733.3% in the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after buying an additional 246 shares during the last quarter. UMB Bank n.a. increased its position in shares of Enphase Energy by 784.8% in the 3rd 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 purchased a new position in Enphase Energy in the 3rd quarter worth $34,000. Finally, Blue Trust Inc. raised its stake in Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock worth $49,000 after acquiring an additional 228 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors.

About Enphase Energy

(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.

Featured Articles