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

Enphase Energy (NASDAQ:ENPH) had its price target cut by equities research analysts at The Goldman Sachs Group from $121.00 to $105.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 63.32% from the company’s current price.

ENPH has been the topic of several other research reports. Barclays lowered their price objective on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Oppenheimer lowered their price target on shares of Enphase Energy from $134.00 to $101.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Canaccord Genuity Group reissued a “hold” rating and issued a $76.00 price target on shares of Enphase Energy in a research report on Tuesday, November 19th. Susquehanna lowered their price target on shares of Enphase Energy from $104.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America lowered their price target on shares of Enphase Energy from $72.00 to $62.00 and set an “underperform” rating on the stock in a research report on Thursday, November 7th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Enphase Energy has an average rating of “Hold” and an average price target of $94.09.

Enphase Energy Stock Performance

Shares of ENPH stock opened at $64.29 on Wednesday. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 146.11, a P/E/G ratio of 8.02 and a beta of 1.68. 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 firm’s 50-day simple moving average is $69.30 and its two-hundred day simple moving average is $91.99.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data 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 return on equity of 10.56% and a net margin of 4.91%. The business’s revenue was down 30.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, equities analysts forecast that Enphase Energy will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds have recently made changes to their positions in ENPH. Green Alpha Advisors LLC raised its holdings in Enphase Energy by 1.4% during the 3rd quarter. Green Alpha Advisors LLC now owns 7,148 shares of the semiconductor company’s stock valued at $808,000 after buying an additional 102 shares during the last quarter. Centaurus Financial Inc. raised its holdings in Enphase Energy by 10.2% during the 2nd quarter. Centaurus Financial Inc. now owns 1,280 shares of the semiconductor company’s stock valued at $128,000 after buying an additional 118 shares during the last quarter. Creative Financial Designs Inc. ADV raised its holdings in Enphase Energy by 19.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 125 shares during the last quarter. Empirical Finance LLC raised its holdings in Enphase Energy by 3.9% during the 3rd quarter. Empirical Finance LLC now owns 3,673 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 137 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Enphase Energy by 5.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,119 shares of the semiconductor company’s stock valued at $354,000 after buying an additional 153 shares during the last quarter. 72.12% of the stock is currently owned by 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.