The Goldman Sachs Group Cuts Enphase Energy (NASDAQ:ENPH) Price Target to $105.00

Enphase Energy (NASDAQ:ENPH) had its target price reduced by The Goldman Sachs Group from $121.00 to $105.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts have also issued reports about the company. Truist Financial reaffirmed a “hold” rating and set a $65.00 target price (down from $100.00) on shares of Enphase Energy in a research report on Thursday, January 16th. Oppenheimer reduced 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. Piper Sandler dropped their target price on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Canaccord Genuity Group downgraded shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, BNP Paribas cut shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price objective on the stock. in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.09.

Enphase Energy Stock Performance

Shares of ENPH opened at $63.36 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.16 and a quick ratio of 3.88. The firm’s 50 day moving average is $69.38 and its 200-day moving average is $91.72. Enphase Energy has a 12-month low of $58.33 and a 12-month high of $141.63. The stock has a market capitalization of $8.56 billion, a P/E ratio of 144.00, a P/E/G ratio of 7.79 and a beta of 1.68.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ENPH. Tempus Wealth Planning LLC bought a new position in shares of Enphase Energy in the fourth quarter worth about $224,000. Golden State Equity Partners increased its position in Enphase Energy by 1,123.3% in the 4th quarter. Golden State Equity Partners now owns 3,156 shares of the semiconductor company’s stock worth $217,000 after buying an additional 2,898 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Enphase Energy by 12.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,719 shares of the semiconductor company’s stock worth $324,000 after acquiring an additional 540 shares during the last quarter. Everett Harris & Co. CA bought a new stake in Enphase Energy in the fourth quarter valued at $237,000. Finally, Pacer Advisors Inc. increased its stake in shares of Enphase Energy by 238.9% in the 4th quarter. Pacer Advisors Inc. now owns 34,514 shares of the semiconductor company’s stock valued at $2,370,000 after buying an additional 24,331 shares during the period. Institutional investors and hedge funds 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.