Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $70.00 at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its price target cut by analysts at Piper Sandler from $85.00 to $70.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price target suggests a potential upside of 5.60% from the stock’s previous close.

Several other brokerages have also recently issued reports on ENPH. Evercore ISI dropped their target price on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Susquehanna cut their target price on Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets decreased their price target on shares of Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research report on Monday, October 14th. Guggenheim downgraded shares of Enphase Energy from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research report on Wednesday, October 23rd. Finally, William Blair assumed coverage on shares of Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $101.13.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $66.29 on Friday. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average price is $90.93 and its 200-day moving average price is $106.09. The firm has a market cap of $8.96 billion, a P/E ratio of 150.66, a P/E/G ratio of 19.49 and a beta of 1.77. Enphase Energy has a 12 month low of $58.33 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. During the same quarter in the prior year, the firm posted $0.84 EPS. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year. On average, equities research analysts expect that Enphase Energy will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Institutional investors have recently made changes to their positions in the company. Coldstream Capital Management Inc. purchased a new stake in Enphase Energy during the third quarter worth $210,000. Gould Capital LLC grew its position in shares of Enphase Energy by 2.1% during the 3rd quarter. Gould Capital LLC now owns 10,206 shares of the semiconductor company’s stock valued at $1,153,000 after acquiring an additional 212 shares during the period. Geode Capital Management LLC grew its position in shares of Enphase Energy by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company’s stock valued at $381,030,000 after acquiring an additional 20,579 shares during the period. Resources Management Corp CT ADV increased its stake in shares of Enphase Energy by 6.8% in the 3rd quarter. Resources Management Corp CT ADV now owns 4,542 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 290 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Enphase Energy by 4.0% in the 3rd quarter. M&T Bank Corp now owns 18,907 shares of the semiconductor company’s stock worth $2,137,000 after purchasing an additional 726 shares during the period. 72.12% of the stock is owned by hedge funds and other 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.