Enphase Energy (NASDAQ:ENPH) Given New $70.00 Price Target at Piper Sandler

Enphase Energy (NASDAQ:ENPH) had its target price dropped by analysts at Piper Sandler from $85.00 to $70.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Piper Sandler’s price target indicates a potential upside of 7.78% from the stock’s current price.

Several other analysts have also issued reports on ENPH. Raymond James dropped their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. BNP Paribas lowered Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price on the stock. in a report on Friday, November 8th. HSBC lowered Enphase Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $154.00 to $81.00 in a report on Friday, November 8th. Northland Securities lowered their price target on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Citigroup lowered their price target on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.13.

Enphase Energy Trading Up 2.2 %

ENPH stock traded up $1.38 during midday trading on Friday, hitting $64.95. 745,420 shares of the company’s stock were exchanged, compared to its average volume of 4,044,359. The stock’s fifty day moving average price is $91.80 and its 200-day moving average price is $106.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The company has a market cap of $8.78 billion, a PE ratio of 147.61, a price-to-earnings-growth ratio of 18.81 and a beta of 1.77. Enphase Energy has a one year low of $58.33 and a one year high of $141.63.

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

Institutional Investors Weigh In On Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its stake in shares of Enphase Energy by 198.3% in the 1st quarter. Bessemer Group Inc. now owns 1,897 shares of the semiconductor company’s stock valued at $229,000 after acquiring an additional 1,261 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Enphase Energy in the 1st quarter valued at $59,128,000. Bayesian Capital Management LP bought a new position in shares of Enphase Energy in the 1st quarter valued at $7,668,000. Vancity Investment Management Ltd lifted its stake in shares of Enphase Energy by 2.9% in the 1st quarter. Vancity Investment Management Ltd now owns 56,124 shares of the semiconductor company’s stock valued at $6,789,000 after acquiring an additional 1,559 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Enphase Energy by 2.0% in the 1st quarter. California State Teachers Retirement System now owns 228,004 shares of the semiconductor company’s stock valued at $27,584,000 after acquiring an additional 4,469 shares during the last quarter. 72.12% of the stock is currently owned by 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.