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

Enphase Energy (NASDAQ:ENPH) had its price target hoisted by Citigroup from $71.00 to $72.00 in a research report report published on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

A number of other analysts also recently weighed in on the company. Jefferies Financial Group downgraded Enphase Energy from a “hold” rating to an “underperform” rating and cut their target price for the company from $93.00 to $61.00 in a research report on Thursday, November 7th. Janney Montgomery Scott downgraded shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 price objective on the stock. in a research note on Wednesday, October 23rd. TD Cowen cut their price target on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. OTR Global upgraded shares of Enphase Energy from a “negative” rating to a “mixed” rating in a research report on Friday, December 20th. Finally, Evercore ISI lowered their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $97.86.

Enphase Energy Price Performance

NASDAQ:ENPH opened at $66.74 on Wednesday. Enphase Energy has a 52 week low of $58.33 and a 52 week high of $141.63. 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 $70.87 and its 200 day simple moving average is $94.51. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of 151.68, a P/E/G ratio of 21.92 and a beta of 1.69.

Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). The business had revenue of $380.90 million for the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, sell-side analysts predict that Enphase Energy will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENPH. Natixis Advisors LLC bought a new position in Enphase Energy during the second quarter worth $1,076,000. TD Asset Management Inc grew its holdings in Enphase Energy by 2.6% during the 2nd quarter. TD Asset Management Inc now owns 47,350 shares of the semiconductor company’s stock worth $4,721,000 after acquiring an additional 1,209 shares during the period. National Bank of Canada FI raised its position in shares of Enphase Energy by 30.2% in the 2nd quarter. National Bank of Canada FI now owns 42,459 shares of the semiconductor company’s stock worth $4,129,000 after acquiring an additional 9,857 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Enphase Energy by 20.1% in the 2nd quarter. Private Advisor Group LLC now owns 19,046 shares of the semiconductor company’s stock valued at $1,899,000 after purchasing an additional 3,182 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Enphase Energy during the 2nd quarter valued at about $431,000. Institutional investors own 72.12% of the company’s stock.

About Enphase Energy

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.