Enphase Energy (NASDAQ:ENPH) Price Target Lowered to $28.00 at Jefferies Financial Group

Key Points

• Jefferies Financial Group has reduced its price target for Enphase Energy from $32.00 to $28.00, indicating a potential downside of 11.39% from the stock's previous close, and maintaining an "underperform" rating.
• The average rating among analysts for Enphase Energy is currently "Hold," with a price target of $55.22, while several analysts have issued varying ratings, including multiple "underperform" and "neutral" ratings.
• Enphase Energy reported earnings per share of $0.69, beating the consensus estimate, with revenue of $363.15 million, up 19.7% year-over-year.

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price target decreased by Jefferies Financial Group from $32.00 to $28.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "underperform" rating on the semiconductor company's stock. Jefferies Financial Group's price objective would suggest a potential downside of 11.39% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler cut their target price on shares of Enphase Energy from $47.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. BNP Paribas Exane cut shares of Enphase Energy from a "neutral" rating to an "underperform" rating and set a $40.00 price objective for the company. in a research report on Tuesday, May 13th. Royal Bank Of Canada set a $28.00 price objective on shares of Enphase Energy and gave the stock a "sector perform" rating in a research report on Wednesday, June 18th. Canaccord Genuity Group dropped their price objective on shares of Enphase Energy from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Mizuho dropped their price objective on shares of Enphase Energy from $53.00 to $50.00 and set an "outperform" rating for the company in a research report on Monday, July 14th. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $55.22.

Enphase Energy Stock Up 0.5%

Shares of ENPH traded up $0.17 during mid-day trading on Monday, reaching $31.60. The company's stock had a trading volume of 3,230,659 shares, compared to its average volume of 6,438,473. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 0.65. Enphase Energy has a 1 year low of $31.13 and a 1 year high of $130.08. The business has a fifty day moving average of $39.81 and a 200 day moving average of $50.81. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 24.67 and a beta of 1.59.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.07. The company had revenue of $363.15 million for the quarter, compared to analyst estimates of $359.14 million. Enphase Energy had a return on equity of 24.55% and a net margin of 11.78%. The business's revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. As a group, analysts forecast that Enphase Energy will post 2.08 earnings per share for the current fiscal year.

Institutional Trading of Enphase Energy

Several large investors have recently made changes to their positions in ENPH. Resona Asset Management Co. Ltd. acquired a new stake in Enphase Energy in the fourth quarter valued at $2,892,000. Dynamic Technology Lab Private Ltd acquired a new stake in Enphase Energy in the fourth quarter valued at $477,000. Federated Hermes Inc. increased its holdings in Enphase Energy by 235.2% in the fourth quarter. Federated Hermes Inc. now owns 342,767 shares of the semiconductor company's stock valued at $23,543,000 after purchasing an additional 240,522 shares during the period. Invesco Ltd. increased its holdings in Enphase Energy by 43.4% in the fourth quarter. Invesco Ltd. now owns 4,557,865 shares of the semiconductor company's stock valued at $313,034,000 after purchasing an additional 1,378,978 shares during the period. Finally, Rathbones Group PLC increased its holdings in Enphase Energy by 2.2% in the fourth quarter. Rathbones Group PLC now owns 53,835 shares of the semiconductor company's stock valued at $3,697,000 after purchasing an additional 1,140 shares during the period. 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.

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