Northland Securities Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its target price cut by analysts at Northland Securities from $110.00 to $90.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Northland Securities’ price objective would indicate a potential upside of 44.23% from the company’s current price.

A number of other research analysts have also weighed in on ENPH. Bank of America cut their target price on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. BNP Paribas lowered shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 target price for the company. in a report on Friday, November 8th. Janney Montgomery Scott lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and set a $83.00 target price for the company. in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of 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 report on Thursday, November 7th. Finally, Oppenheimer dropped their price objective on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $102.09.

Enphase Energy Price Performance

NASDAQ ENPH opened at $62.40 on Tuesday. Enphase Energy has a 12 month low of $58.33 and a 12 month high of $141.63. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 141.82, a PEG ratio of 18.32 and a beta of 1.77. The company’s 50 day moving average is $94.46 and its two-hundred day moving average is $107.46. The company has a current ratio of 4.16, a quick ratio of 3.88 and a debt-to-equity ratio of 1.29.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.12). Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The company had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same period last year, the business earned $0.84 earnings per share. The company’s quarterly revenue was down 30.9% compared to the same quarter last year. As a group, research analysts anticipate that Enphase Energy will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of large investors have recently modified their holdings of ENPH. Avior Wealth Management LLC boosted its position in Enphase Energy by 6,975.0% in the third quarter. Avior Wealth Management LLC now owns 283 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 279 shares during the last quarter. UMB Bank n.a. lifted its holdings in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares during the period. nVerses Capital LLC acquired a new position in Enphase Energy in the third quarter valued at approximately $34,000. Stone House Investment Management LLC acquired a new position in Enphase Energy in the third quarter valued at approximately $34,000. Finally, Quarry LP acquired a new position in shares of Enphase Energy during the 3rd quarter worth approximately $37,000. 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.