Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $125.00 at Evercore ISI

Enphase Energy (NASDAQ:ENPH) had its price target lowered by Evercore ISI from $133.00 to $125.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

A number of other equities analysts have also recently commented on the stock. Truist Financial cut their target price 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 raised shares of Enphase Energy from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $120.00 to $144.00 in a report on Wednesday, August 7th. The Goldman Sachs Group cut their target price on shares of Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday. TD Cowen dropped their price objective on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, 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 note on Wednesday. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $111.56.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $78.47 on Wednesday. The firm has a market capitalization of $10.68 billion, a P/E ratio of 40.87, a P/E/G ratio of 5.57 and a beta of 1.72. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The firm’s 50 day moving average is $109.81 and its two-hundred day moving average is $112.23.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results 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). The business had revenue of $380.90 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.84 earnings per share. Research analysts forecast that Enphase Energy will post 1.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its holdings in Enphase Energy by 1,068.4% in the 1st quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 203 shares in the last quarter. Chilton Capital Management LLC lifted its holdings in Enphase Energy by 2,733.3% in the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 246 shares in the last quarter. UMB Bank n.a. lifted its holdings in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares in the last quarter. nVerses Capital LLC purchased a new position in Enphase Energy in the 3rd quarter valued at about $34,000. Finally, Blue Trust Inc. lifted its holdings in Enphase Energy by 109.1% in the 3rd quarter. Blue Trust Inc. now owns 437 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 228 shares in the last quarter. 72.12% of the stock is currently 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.