Enphase Energy, Inc. (NASDAQ:ENPH) has received a consensus rating of “Reduce” from a group of thirty-six analysts following the stock. According to Marketbeat, the analysts have issued varying recommendations: thirteen rated the stock as a sell, another thirteen recommended holding, and ten analysts suggested a buy.
The average price target for Enphase Energy over the next twelve months is set at approximately $55.22. This figure reflects the analysts’ assessments of the company’s potential amidst fluctuating market conditions. Recent reports from various equities research firms provide insight into their revised expectations for the stock.
Recent Analyst Reports
On July 23, Bank of America lowered its price target for Enphase Energy from $31.00 to $30.00, designating the stock as “underperform.” Similarly, Piper Sandler reduced its target from $47.00 to $42.00, maintaining a “neutral” rating in its report dated April 23. On July 21, Susquehanna also adjusted its target, dropping it from $51.00 to $40.00, while reiterating a “neutral” stance.
KeyCorp reaffirmed an “underweight” rating with a price objective of $31.00 in a research note released on June 17. Additionally, BNP Paribas Exane downgraded its rating from “neutral” to “underperform,” setting a target of $40.00 on May 13.
Enphase Energy’s stock opened at $31.69 on Friday, July 22. The company maintains a market capitalization of approximately $4.14 billion. Key financial metrics include a current ratio of 1.97, a quick ratio of 1.82, and a debt-to-equity ratio of 0.65. Over the past year, the stock has seen a low of $31.13 and a high of $130.08.
Quarterly Performance Highlights
Enphase Energy’s most recent quarterly earnings report, released on July 22, revealed earnings per share (EPS) of $0.69, surpassing analysts’ expectations of $0.62 by $0.07. The company reported revenue of $363.15 million, slightly exceeding the consensus estimate of $359.14 million. Year-over-year, the company’s revenue increased by 19.7%, up from $0.43 EPS during the same period last year. Analysts anticipate an EPS of $2.08 for the current fiscal year.
Hedge funds and institutional investors have been active in modifying their holdings of Enphase Energy. Baillie Gifford & Co. increased its stake by 32.0% in the first quarter, acquiring an additional 2,680,567 shares, bringing its total to 11,052,357 shares valued at $685.8 million. Invesco Ltd. raised its holdings by 43.4% in the fourth quarter, owning 4,557,865 shares valued at $313 million after acquiring 1,378,978 shares.
Assenagon Asset Management S.A. boosted its holdings by an impressive 827.3% in the second quarter, now owning 1,152,546 shares worth $45.7 million. AQR Capital Management LLC increased its stake significantly by 9,236.6% in the first quarter, owning 691,564 shares valued at $41.5 million after acquiring 684,157 shares.
Institutional investors and hedge funds collectively own approximately 72.12% of Enphase Energy’s stock, indicating strong institutional confidence in the company’s potential.
Enphase Energy, based in the United States, specializes in designing, developing, and selling home energy solutions for the solar photovoltaic industry. The company is known for its semiconductor-based microinverters, which convert energy at the individual solar module level, integrated with proprietary networking and software technologies to enhance energy monitoring and control.
