Enphase Energy (NASDAQ:ENPH) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Key Points

• Deutsche Bank raised its price target on Enphase to $39 (from $38) while maintaining a "hold" rating; the consensus analyst rating is also "Hold" with an average price target of $43.06, implying upside from the current ~ $32.32 share price.
• Earnings beat: Enphase reported $0.71 EPS vs. $0.52 expected and revenue of $343.3M (slightly above estimates), although revenue was down 10.3% year‑over‑year.
• Insider and institutional activity: CEO Badrinarayanan Kothandaraman bought 5,000 shares at about $51.98 while a director sold 137,250 shares at $43.61; insiders own ~3.1% of the stock and institutions hold ~72.1%.

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective increased by stock analysts at Deutsche Bank Aktiengesellschaft from $38.00 to $39.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm presently has a "hold" rating on the semiconductor company's stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 20.67% from the company's current price.

A number of other analysts have also recently commented on the stock. Oppenheimer increased their price target on shares of Enphase Energy from $67.00 to $68.00 and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Barclays cut their price target on shares of Enphase Energy from $35.00 to $31.00 and set an "underweight" rating for the company in a research note on Wednesday. Citigroup increased their price target on shares of Enphase Energy from $37.00 to $41.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Susquehanna reiterated a "neutral" rating and issued a $46.00 price target on shares of Enphase Energy in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of Enphase Energy from a "sell" rating to a "hold" rating in a research note on Sunday, March 29th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, Enphase Energy presently has an average rating of "Hold" and a consensus price target of $43.06.

Enphase Energy Stock Down 0.7%

Shares of NASDAQ:ENPH opened at $32.32 on Thursday. Enphase Energy has a 52 week low of $25.77 and a 52 week high of $55.41. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.84 and a current ratio of 2.07. The company has a market capitalization of $4.26 billion, a PE ratio of 25.08 and a beta of 1.39. The company has a 50 day moving average price of $42.50 and a two-hundred day moving average price of $36.67.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last issued its earnings results on Tuesday, February 3rd. The semiconductor company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.52 by $0.19. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The firm had revenue of $343.32 million during the quarter, compared to the consensus estimate of $340.45 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The business's quarterly revenue was down 10.3% on a year-over-year basis. Analysts forecast that Enphase Energy will post 2.08 earnings per share for the current year.

Insider Transactions at Enphase Energy

In other news, CEO Badrinarayanan Kothandaraman bought 5,000 shares of Enphase Energy stock in a transaction dated Thursday, February 5th. The stock was purchased at an average price of $51.98 per share, for a total transaction of $259,900.00. Following the purchase, the chief executive officer directly owned 1,640,632 shares in the company, valued at $85,280,051.36. The trade was a 0.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thurman J. Rodgers sold 137,250 shares of the firm's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the sale, the director owned 1,597,641 shares of the company's stock, valued at $69,673,124.01. This trade represents a 7.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ENPH. Principal Financial Group Inc. grew its position in shares of Enphase Energy by 334.1% during the 3rd quarter. Principal Financial Group Inc. now owns 626,065 shares of the semiconductor company's stock worth $22,156,000 after buying an additional 481,846 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Enphase Energy by 384.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 71,589 shares of the semiconductor company's stock worth $2,533,000 after buying an additional 56,818 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Enphase Energy by 1,246.8% during the 3rd quarter. Nordea Investment Management AB now owns 158,948 shares of the semiconductor company's stock worth $5,652,000 after buying an additional 147,146 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Enphase Energy during the 3rd quarter worth $2,038,000. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Enphase Energy by 114.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 56,349 shares of the semiconductor company's stock worth $1,994,000 after buying an additional 30,026 shares in the last quarter. Institutional investors own 72.12% of the company's stock.

About Enphase Energy

Enphase Energy is a global energy technology company that specializes in solar microinverters, energy storage systems and energy management software. Its core business centers on converting direct current (DC) power generated by solar panels into alternating current (AC) power suitable for use in residential and commercial applications. By integrating hardware and software solutions, Enphase Energy aims to improve solar energy yield, enhance system reliability and provide real-time monitoring capabilities to its customers.

The company's product portfolio includes its IQ Series microinverters, which attach to individual solar panels to optimize performance at the module level and reduce the impact of shading or system failures.

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