Enphase Energy (NASDAQ:ENPH) Price Target Cut to $85.00 by Analysts at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its price objective lowered by Piper Sandler from $105.00 to $85.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the semiconductor company’s stock.

Other research analysts have also recently issued research reports about the stock. Janney Montgomery Scott cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research report on Wednesday. Guggenheim lowered shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price target for the company. in a research report on Wednesday. Truist Financial cut their price objective on shares of Enphase Energy from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. BNP Paribas upgraded shares of Enphase Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $120.00 to $144.00 in a report on Wednesday, August 7th. Finally, Oppenheimer dropped their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $111.56.

Enphase Energy Stock Down 14.9 %

Shares of Enphase Energy stock opened at $78.47 on Wednesday. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The company has a 50-day moving average of $109.81 and a 200 day moving average of $112.23.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same period in the previous year, the business posted $0.84 EPS. The business’s quarterly revenue was down 30.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently bought and sold shares of ENPH. Swedbank AB bought a new stake in Enphase Energy during the 1st quarter worth approximately $424,130,000. Baillie Gifford & Co. boosted its position in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares during the last quarter. Electron Capital Partners LLC boosted its position in Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock valued at $118,028,000 after buying an additional 1,078,154 shares during the last quarter. Anomaly Capital Management LP bought a new position in Enphase Energy in the 2nd quarter valued at $51,582,000. Finally, Canada Pension Plan Investment Board bought a new position in Enphase Energy in the 1st quarter valued at $59,128,000. 72.12% of the stock is currently 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.