Enphase Energy (NASDAQ:ENPH) Releases Earnings Results, Misses Expectations By $0.12 EPS

Enphase Energy (NASDAQ:ENPH) posted its quarterly earnings results on Tuesday. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12), Briefing.com reports. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the previous year, the business posted $0.84 earnings per share. Enphase Energy’s revenue was down 30.9% on a year-over-year basis. Enphase Energy updated its Q4 2024 guidance to EPS.

Enphase Energy Stock Performance

ENPH opened at $78.47 on Thursday. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of 40.87, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The business has a 50 day moving average price of $109.81 and a two-hundred day moving average price of $112.23. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ENPH. Piper Sandler reduced their price target on shares of Enphase Energy from $105.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday. Canaccord Genuity Group restated a “hold” rating and set a $95.00 price objective (down from $140.00) on shares of Enphase Energy in a research report on Wednesday. Craig Hallum reduced their target price on Enphase Energy from $153.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their target price on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Raymond James reduced their target price on Enphase Energy from $140.00 to $130.00 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 assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $111.56.

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.