Morgan Stanley Raises Enphase Energy (NASDAQ:ENPH) Price Target to $102.00

by · The Markets Daily

Enphase Energy (NASDAQ:ENPH – Free Report) had its price target raised by Morgan Stanley from $100.00 to $102.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an equal weight rating on the semiconductor company’s stock.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets lowered their target price on Enphase Energy from $115.00 to $114.00 and set a market perform rating for the company in a report on Wednesday, October 2nd. Susquehanna increased their price objective on Enphase Energy from $140.00 to $147.00 and gave the stock a positive rating in a report on Monday, July 15th. Piper Sandler boosted their target price on Enphase Energy from $111.00 to $120.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Barclays reduced their price target on Enphase Energy from $131.00 to $129.00 and set an overweight rating for the company in a research report on Thursday, July 25th. Finally, Guggenheim lowered their price objective on shares of Enphase Energy from $93.00 to $90.00 and set a sell rating on the stock in a report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Enphase Energy currently has a consensus rating of Hold and an average price target of $126.99.

Get Our Latest Report on Enphase Energy

Enphase Energy Trading Up 1.8 %

NASDAQ:ENPH opened at $100.97 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The business’s 50-day simple moving average is $112.35 and its 200-day simple moving average is $113.73. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $141.63. The stock has a market capitalization of $13.74 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. During the same period in the previous year, the firm posted $1.16 EPS. The business’s quarterly revenue was down 57.3% compared to the same quarter last year. Sell-side analysts expect that Enphase Energy will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently bought and sold shares of ENPH. Benjamin Edwards Inc. boosted its position in shares of Enphase Energy by 2.8% in the second quarter. Benjamin Edwards Inc. now owns 3,361 shares of the semiconductor company’s stock valued at $335,000 after acquiring an additional 93 shares during the period. Fermata Advisors LLC raised its stake in Enphase Energy by 1.4% in the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after purchasing an additional 100 shares in the last quarter. Hollencrest Capital Management boosted its holdings in Enphase Energy by 3.3% in the 1st quarter. Hollencrest Capital Management now owns 3,095 shares of the semiconductor company’s stock valued at $374,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Enphase Energy by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,681 shares of the semiconductor company’s stock worth $1,165,000 after purchasing an additional 100 shares in the last quarter. Finally, Green Alpha Advisors LLC increased its holdings in shares of Enphase Energy by 1.4% during the third quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock worth $808,000 after purchasing an additional 102 shares during the period. 72.12% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Company Profile

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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.

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