Enphase Energy (NASDAQ:ENPH) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup analysts have raised their price target for Enphase Energy from $30.00 to $32.00, indicating a potential downside of 14.78% from the current price, while maintaining a "sell" rating.
• Multiple research firms have issued varied ratings: Oppenheimer set a target of $73.00 with an "outperform," while Deutsche Bank set a target of $42.00, underscoring differing outlooks on the stock's performance.
• CEO Badrinarayanan Kothandaraman bought 5,000 shares at approximately $30.82 each, reflecting confidence in the company's future, though insider ownership remains modest at 3.10% of total shares.

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective raised by investment analysts at Citigroup from $30.00 to $32.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "sell" rating on the semiconductor company's stock. Citigroup's target price suggests a potential downside of 14.78% from the company's previous close.

Several other research analysts have also issued reports on the company. Oppenheimer lowered their target price on Enphase Energy from $77.00 to $73.00 and set an "outperform" rating for the company in a research report on Thursday, October 9th. Susquehanna reduced their price target on shares of Enphase Energy from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Monday, October 13th. JPMorgan Chase & Co. upped their price target on shares of Enphase Energy from $39.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Enphase Energy from $49.00 to $42.00 and set a "hold" rating for the company in a research note on Thursday, July 24th. Finally, Johnson Rice cut shares of Enphase Energy from a "buy" rating to an "accumulate" rating and set a $45.00 target price on the stock. in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, fourteen have issued a Hold rating and thirteen have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $52.40.

Enphase Energy Trading Down 0.1%

Shares of NASDAQ:ENPH traded down $0.03 during midday trading on Tuesday, hitting $37.55. The company had a trading volume of 1,480,562 shares, compared to its average volume of 6,826,907. The firm has a fifty day simple moving average of $36.94 and a 200 day simple moving average of $40.74. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.65. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 29.42 and a beta of 1.56. Enphase Energy has a 12 month low of $29.89 and a 12 month high of $92.62.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, July 22nd. The semiconductor company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. The business 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%.Enphase Energy's revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, analysts predict that Enphase Energy will post 2.08 EPS for the current year.

Insider Buying and Selling at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average cost of $30.82 per share, for a total transaction of $154,100.00. Following the completion of the transaction, the chief executive officer owned 1,620,632 shares in the company, valued at approximately $49,947,878.24. This trade represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Enphase Energy by 431.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 633 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 514 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in Enphase Energy by 761.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 861 shares of the semiconductor company's stock valued at $32,000 after purchasing an additional 761 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Enphase Energy by 83.0% in the first quarter. First Horizon Advisors Inc. now owns 569 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 258 shares during the period. SVB Wealth LLC purchased a new position in Enphase Energy in the first quarter valued at approximately $38,000. Finally, Brooklyn Investment Group raised its stake in shares of Enphase Energy by 124.7% during the first quarter. Brooklyn Investment Group now owns 663 shares of the semiconductor company's stock valued at $41,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.