Brokerages Set Enphase Energy, Inc. (NASDAQ:ENPH) Target Price at $45.61

by · The Markets Daily

Enphase Energy, Inc. (NASDAQ:ENPH – Get Free Report) has received an average recommendation of “Hold” from the twenty-three research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $45.6123.

A number of research analysts recently issued reports on ENPH shares. Oppenheimer dropped their price target on Enphase Energy from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Wells Fargo & Company cut their target price on Enphase Energy from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Evercore set a $37.00 price target on Enphase Energy in a research note on Monday, May 4th. Sanford C. Bernstein began coverage on Enphase Energy in a report on Tuesday, June 16th. They set a “market perform” rating and a $56.00 price objective on the stock. Finally, Morgan Stanley set a $27.00 target price on Enphase Energy in a report on Friday, May 8th.

Get Our Latest Report on Enphase Energy

Enphase Energy Price Performance

ENPH stock opened at $40.48 on Wednesday. Enphase Energy has a 1 year low of $25.77 and a 1 year high of $73.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.45 and a quick ratio of 2.95. The firm has a market capitalization of $5.35 billion, a PE ratio of 40.48 and a beta of 1.64. The business has a 50 day simple moving average of $44.38 and a 200-day simple moving average of $44.06.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last posted its earnings results on Tuesday, July 28th. The semiconductor company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $291.85 million during the quarter, compared to analyst estimates of $289.76 million. Enphase Energy had a net margin of 10.09% and a return on equity of 13.31%. The company’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 EPS. Equities research analysts anticipate that Enphase Energy will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Enphase Energy

In related news, Director Shanker Trivedi purchased 1,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were bought at an average price of $53.91 per share, with a total value of $53,910.00. Following the completion of the purchase, the director directly owned 1,000 shares in the company, valued at approximately $53,910. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard Mora sold 2,000 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $36.76, for a total transaction of $73,520.00. Following the completion of the sale, the director directly owned 11,922 shares of the company’s stock, valued at $438,252.72. The trade was a 14.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 4,900 shares of company stock worth $211,473. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the stock. PFG Investments LLC boosted its stake in Enphase Energy by 2.2% in the fourth quarter. PFG Investments LLC now owns 12,191 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 260 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of Enphase Energy by 1.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 26,375 shares of the semiconductor company’s stock worth $845,000 after acquiring an additional 404 shares during the period. Rakuten Securities Inc. boosted its stake in Enphase Energy by 33.6% during the second quarter. Rakuten Securities Inc. now owns 1,629 shares of the semiconductor company’s stock valued at $65,000 after buying an additional 410 shares in the last quarter. Saturna Capital Corp grew its holdings in Enphase Energy by 4.2% during the first quarter. Saturna Capital Corp now owns 10,957 shares of the semiconductor company’s stock worth $414,000 after acquiring an additional 442 shares during the period. Finally, Liberty Wealth Management LLC grew its holdings in Enphase Energy by 0.3% during the fourth quarter. Liberty Wealth Management LLC now owns 130,067 shares of the semiconductor company’s stock worth $4,169,000 after acquiring an additional 453 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

Enphase Energy Company Profile

(Get Free Report)

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company’s product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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