Enphase Energy (NASDAQ:ENPH) Price Target Cut to $70.00 by Analysts at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its target price reduced by Piper Sandler from $85.00 to $70.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other brokerages also recently commented on ENPH. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Canaccord Genuity Group downgraded Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Bank of America reduced their price objective on Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Northland Securities reduced their target price on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and an average target price of $101.13.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $66.29 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The business’s 50 day moving average price is $91.80 and its 200-day moving average price is $106.49. The firm has a market capitalization of $8.96 billion, a PE ratio of 150.66, a P/E/G ratio of 19.49 and a beta of 1.77. Enphase Energy has a 1 year low of $58.33 and a 1 year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter 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, equities research analysts expect that Enphase Energy will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin Edwards Inc. boosted its position in shares of Enphase Energy by 2.8% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock worth $335,000 after acquiring an additional 93 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Enphase Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after acquiring an additional 100 shares in the last quarter. Green Alpha Advisors LLC boosted its position in shares of Enphase Energy by 1.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after acquiring an additional 102 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Enphase Energy by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,591 shares of the semiconductor company’s stock worth $557,000 after acquiring an additional 106 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its position in shares of Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 118 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

About Enphase Energy

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.