Enphase Energy (NASDAQ:ENPH) Given New $121.00 Price Target at The Goldman Sachs Group

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price target cut by equities researchers at The Goldman Sachs Group from $145.00 to $121.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. The Goldman Sachs Group's target price would suggest a potential upside of 64.85% from the company's current price.

A number of other analysts have also commented on ENPH. BNP Paribas lowered Enphase Energy from an "outperform" rating to a "neutral" rating and set a $88.00 price objective for the company. in a report on Friday, November 8th. Roth Mkm cut their price target on Enphase Energy from $130.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Piper Sandler lowered their target price on shares of Enphase Energy from $85.00 to $70.00 and set a "neutral" rating on the stock in a research note on Friday, November 22nd. Janney Montgomery Scott lowered shares of Enphase Energy from a "buy" rating to a "neutral" rating and set a $83.00 target price on the stock. in a report on Wednesday, October 23rd. Finally, Evercore ISI dropped their target price on shares of Enphase Energy from $133.00 to $125.00 and set an "outperform" 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 given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $100.33.

Enphase Energy Stock Performance

NASDAQ:ENPH traded up $1.78 during mid-day trading on Tuesday, hitting $73.40. 3,735,271 shares of the stock were exchanged, compared to its average volume of 4,020,127. 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 firm's 50-day simple moving average is $78.05 and its 200 day simple moving average is $100.91. Enphase Energy has a fifty-two week low of $58.33 and a fifty-two week high of $141.63. The stock has a market capitalization of $9.92 billion, a price-to-earnings ratio of 166.82, a price-to-earnings-growth ratio of 22.03 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results 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 the consensus estimate of $392.51 million. During the same period in the previous year, the firm posted $0.84 EPS. The business's quarterly revenue was down 30.9% compared to the same quarter last year. As a group, equities analysts anticipate that Enphase Energy will post 0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Enphase Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avior Wealth Management LLC lifted its stake in shares of Enphase Energy by 6,975.0% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company's stock worth $32,000 after buying an additional 279 shares during the period. UMB Bank n.a. grew its stake in Enphase Energy by 784.8% during 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 during the last quarter. nVerses Capital LLC acquired a new position in shares of Enphase Energy in the third quarter valued at about $34,000. Stone House Investment Management LLC purchased a new position in shares of Enphase Energy in the third quarter worth about $34,000. Finally, Quarry LP acquired a new stake in shares of Enphase Energy during the third quarter worth about $37,000. 72.12% of the stock is 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.