Enphase Energy (NASDAQ:ENPH) Announces Earnings Results

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

Enphase Energy Stock Performance

NASDAQ:ENPH traded up $2.63 during trading on Thursday, reaching $81.10. The company’s stock had a trading volume of 6,480,094 shares, compared to its average volume of 3,820,991. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 42.24, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The firm has a 50 day moving average of $109.81 and a 200-day moving average of $112.23. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23.

Analyst Ratings Changes

ENPH has been the subject of a number of research analyst reports. Janney Montgomery Scott downgraded Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Wednesday. Susquehanna lowered their price objective on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday. Raymond James cut their target price on shares of Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday. BNP Paribas raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $120.00 to $144.00 in a research note on Wednesday, August 7th. Finally, Truist Financial reduced their target price on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $110.90.

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.