Piper Sandler Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its target price dropped by investment analysts at Piper Sandler from $85.00 to $70.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the semiconductor company's stock. Piper Sandler's target price would indicate a potential upside of 5.60% from the stock's previous close.

Several other research firms also recently weighed in on ENPH. The Goldman Sachs Group decreased their target price on Enphase Energy from $170.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Craig Hallum reduced their target price on shares of Enphase Energy from $153.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. BNP Paribas cut shares of Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 price objective for the company. in a research note on Friday, November 8th. BMO Capital Markets dropped their price target on 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. Finally, Barclays dropped their target price on Enphase Energy from $129.00 to $114.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $101.13.

Enphase Energy Price Performance

Shares of Enphase Energy stock traded up $2.72 on Friday, reaching $66.29. The company's stock had a trading volume of 4,867,170 shares, compared to its average volume of 6,517,209. The company has a quick ratio of 3.88, a current ratio of 4.16 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $8.96 billion, a P/E ratio of 150.66, a PEG ratio of 19.49 and a beta of 1.77. The stock has a 50-day moving average price of $90.93 and a 200-day moving average price of $106.09. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The company had revenue of $380.90 million for the quarter, compared to analyst estimates of $392.51 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The business's revenue was down 30.9% on a year-over-year basis. Analysts expect that Enphase Energy will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in shares of Enphase Energy by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 6,343,099 shares of the semiconductor company's stock valued at $716,897,000 after acquiring an additional 58,040 shares during the last quarter. Swedbank AB purchased a new position in Enphase Energy in the first quarter valued at approximately $424,130,000. Geode Capital Management LLC raised its holdings in Enphase Energy by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,382,316 shares of the semiconductor company's stock worth $381,030,000 after purchasing an additional 20,579 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Enphase Energy by 6.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,350,108 shares of the semiconductor company's stock worth $265,609,000 after buying an additional 142,491 shares during the last quarter. Finally, Electron Capital Partners LLC boosted its holdings in shares of Enphase Energy by 1,021.4% in the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company's stock valued at $118,028,000 after buying an additional 1,078,154 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company's stock.

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.