TD Cowen Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $35.00

Key Points

• TD Cowen cut its price target on Enphase from $40 to $35 and kept a "hold" rating (implying ~10.2% upside), while the Street consensus averages a $41.86 target with 9 Buys, 10 Holds and 7 Sells.
• Q1 results were mixed: ENPH beat EPS ($0.47 vs. $0.43) and reported a strong non‑GAAP gross margin (43.9%) but revenue was roughly in line at $282.9M and fell 20.6% YoY; management cited tariff pressure (~4.3 ppt hit) and guided Q2 revenue to $280M–$310M, wider than consensus.
• The stock reacted lower (trading to $31.75), insiders have sold material positions recently, and institutional investors own about 72.12% of the company (market cap ≈ $4.18B).

Enphase Energy (NASDAQ:ENPH - Get Free Report) had its price objective cut by investment analysts at TD Cowen from $40.00 to $35.00 in a note issued to investors on Wednesday. The firm currently has a "hold" rating on the semiconductor company's stock. TD Cowen's price target would suggest a potential upside of 10.23% from the company's current price.

Several other research analysts have also issued reports on ENPH. JPMorgan Chase & Co. lifted their price target on shares of Enphase Energy from $33.00 to $39.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Oppenheimer increased their price objective on Enphase Energy from $67.00 to $68.00 and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Wall Street Zen raised Enphase Energy from a "sell" rating to a "hold" rating in a research note on Sunday, March 29th. Weiss Ratings restated a "sell (d)" rating on shares of Enphase Energy in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group boosted their target price on Enphase Energy from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, Enphase Energy has an average rating of "Hold" and a consensus target price of $41.86.

Enphase Energy Price Performance

Shares of NASDAQ:ENPH traded down $2.55 during trading hours on Wednesday, hitting $31.75. 2,972,408 shares of the company's stock traded hands, compared to its average volume of 6,725,999. Enphase Energy has a 52 week low of $25.77 and a 52 week high of $54.43. 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's fifty day simple moving average is $39.37 and its two-hundred day simple moving average is $36.32. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 24.48 and a beta of 1.39.

Enphase Energy (NASDAQ:ENPH - Get Free Report) last released its earnings results on Tuesday, April 28th. The semiconductor company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Enphase Energy had a net margin of 11.69% and a return on equity of 20.31%. The business had revenue of $282.90 million for the quarter, compared to the consensus estimate of $282.25 million. During the same period in the previous year, the firm earned $0.68 EPS. The business's revenue for the quarter was down 20.6% on a year-over-year basis. As a group, equities analysts anticipate that Enphase Energy will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Enphase Energy news, Director Richard Mora sold 1,100 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $52.05, for a total transaction of $57,255.00. Following the transaction, the director directly owned 9,370 shares in the company, valued at approximately $487,708.50. The trade was a 10.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thurman J. Rodgers sold 137,250 shares of the business's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $43.61, for a total transaction of $5,985,472.50. Following the sale, the director directly owned 1,597,641 shares in the company, valued at approximately $69,673,124.01. This trade represents a 7.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Woodline Partners LP grew its stake in Enphase Energy by 37.9% during the 1st quarter. Woodline Partners LP now owns 11,191 shares of the semiconductor company's stock valued at $694,000 after acquiring an additional 3,077 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Enphase Energy in the first quarter worth approximately $121,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Enphase Energy during the second quarter worth approximately $1,299,000. Guggenheim Capital LLC boosted its holdings in shares of Enphase Energy by 14.1% during the second quarter. Guggenheim Capital LLC now owns 26,459 shares of the semiconductor company's stock worth $1,049,000 after purchasing an additional 3,273 shares during the period. Finally, California Public Employees Retirement System grew its position in Enphase Energy by 11.9% during the second quarter. California Public Employees Retirement System now owns 238,794 shares of the semiconductor company's stock valued at $9,468,000 after purchasing an additional 25,450 shares in the last quarter. 72.12% of the stock is owned by institutional investors and hedge funds.

More Enphase Energy News

Here are the key news stories impacting Enphase Energy this week:

• Positive Sentiment: Q1 beat on EPS and strong margin — Enphase reported $0.47 non‑GAAP EPS vs. $0.43 consensus and posted a solid non‑GAAP gross margin of 43.9%, which helped offset some revenue weakness. Enphase Energy (ENPH) Q1 Earnings Surpass Estimates
• Positive Sentiment: New product / market extension — Management unveiled the IQ Solid‑State Transformer for AI data centers (800 VDC), signalling a move into higher‑margin, non‑residential power electronics markets that could diversify revenue long term. Enphase Announces IQ Solid-State Transformer
• Neutral Sentiment: Revenue roughly in line with estimates — Q1 revenue was $282.9M versus consensus ~$282.3M, so the top line met expectations even as it fell year‑over‑year. Revenue In Line With Estimates
• Neutral Sentiment: Q2 revenue guidance broader than consensus — Enphase guided $280M–$310M for Q2 (consensus ~ $296.6M), leaving uncertainty around demand timing but acknowledging safe‑harbor shipments and IQ Battery volumes. Q2 Revenue Guidance
• Negative Sentiment: Sharp YoY and sequential revenue decline; U.S. demand weakness — Revenue fell 20.6% YoY and management cited a ~48% sequential U.S. sell‑through drop, driven in part by the expiration of the Section 25D residential tax credit and seasonality. Those demand headwinds are the primary near‑term concern for investors. Quiver Quant Analysis on Demand Weakness
• Negative Sentiment: Tariff and GAAP loss pressures — The company recorded a GAAP net loss for the quarter and quantified ~4.3 percentage points of negative gross‑margin impact from reciprocal tariffs, squeezing near‑term profitability. Q1 Highlights and Tariff Impact
• Negative Sentiment: Market reaction — News outlets and pre‑market commentary flagged the mixed print and weaker demand, and the stock pulled back as investors focused on near‑term headwinds despite the EPS beat and product announcement. Benzinga Pre‑Market Movers

Enphase Energy Company Profile

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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