The Goldman Sachs Group Issues Pessimistic Forecast for Enphase Energy (NASDAQ:ENPH) Stock Price

Enphase Energy (NASDAQ:ENPH) had its price target lowered by equities research analysts at The Goldman Sachs Group from $145.00 to $121.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 75.87% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler decreased their price objective on shares of Enphase Energy from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Craig Hallum decreased their price target on Enphase Energy from $153.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. William Blair initiated coverage on Enphase Energy in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. HSBC cut Enphase Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $154.00 to $81.00 in a research note on Friday, November 8th. Finally, BNP Paribas lowered Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.33.

Enphase Energy Price Performance

ENPH stock opened at $68.80 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. Enphase Energy has a 52-week low of $58.33 and a 52-week high of $141.63. The company has a market capitalization of $9.30 billion, a P/E ratio of 156.36, a PEG ratio of 22.03 and a beta of 1.69. The company has a fifty day moving average price of $76.71 and a 200-day moving average price of $100.31.

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 company had revenue of $380.90 million during the quarter, compared to the consensus estimate of $392.51 million. Enphase Energy had a net margin of 4.91% and a return on equity of 10.56%. The business’s revenue was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, equities analysts expect that Enphase Energy will post 0.94 EPS for the current year.

Institutional Investors Weigh In On Enphase Energy

Several large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new stake in Enphase Energy in the third quarter worth about $1,273,000. Charles Schwab Investment Management Inc. grew its holdings in Enphase Energy by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 880,340 shares of the semiconductor company’s stock valued at $99,496,000 after purchasing an additional 16,234 shares during the period. Erste Asset Management GmbH purchased a new stake in Enphase Energy in the third quarter worth $37,475,000. Mizuho Securities USA LLC raised its stake in shares of Enphase Energy by 4,177.9% in the third quarter. Mizuho Securities USA LLC now owns 448,918 shares of the semiconductor company’s stock valued at $50,737,000 after buying an additional 438,424 shares during the period. Finally, Impax Asset Management Group plc lifted its position in shares of Enphase Energy by 15.9% during the 3rd quarter. Impax Asset Management Group plc now owns 226,109 shares of the semiconductor company’s stock valued at $25,555,000 after buying an additional 31,008 shares during the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.