Analysts Set Enphase Energy, Inc. (NASDAQ:ENPH) PT at $126.42

Shares of Enphase Energy, Inc. (NASDAQ:ENPH) have been given a consensus recommendation of “Hold” by the thirty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $126.99.

Several brokerages have recently commented on ENPH. Bank of America boosted their price objective on Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets reduced their price objective on shares of Enphase Energy from $115.00 to $114.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 2nd. Jefferies Financial Group restated a “hold” rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research report on Wednesday, September 4th. Finally, Piper Sandler lifted their price target on shares of Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, July 22nd.

Hedge Funds Weigh In On Enphase Energy

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its stake in Enphase Energy by 49.7% in the third quarter. Creative Planning now owns 16,204 shares of the semiconductor company’s stock worth $1,831,000 after purchasing an additional 5,379 shares in the last quarter. Martin Capital Advisors LLP grew its position in shares of Enphase Energy by 5.1% during the 3rd quarter. Martin Capital Advisors LLP now owns 4,174 shares of the semiconductor company’s stock worth $472,000 after buying an additional 204 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Enphase Energy by 821.7% during the third quarter. Exchange Traded Concepts LLC now owns 2,756 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 2,457 shares during the period. Evexia Wealth LLC raised its holdings in shares of Enphase Energy by 30.9% in the third quarter. Evexia Wealth LLC now owns 3,014 shares of the semiconductor company’s stock valued at $321,000 after acquiring an additional 711 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Enphase Energy by 500.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,200 shares of the semiconductor company’s stock worth $136,000 after acquiring an additional 1,000 shares during the period. 72.12% of the stock is currently owned by institutional investors.

Enphase Energy Stock Up 1.8 %

ENPH stock opened at $100.97 on Friday. The business’s 50-day moving average price is $112.35 and its 200-day moving average price is $113.73. The stock has a market cap of $13.74 billion, a P/E ratio of 52.59, a PEG ratio of 5.57 and a beta of 1.72. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The firm had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 earnings per share. On average, equities research analysts forecast that Enphase Energy will post 1.19 EPS for the current year.

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.