Equities Analysts Set Expectations for Enphase Energy, Inc.’s Q1 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – KeyCorp issued their Q1 2024 EPS estimates for shares of Enphase Energy in a research note issued on Monday, April 22nd. KeyCorp analyst S. Karp expects that the semiconductor company will earn $0.03 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $2.01 per share. KeyCorp also issued estimates for Enphase Energy’s Q2 2024 earnings at $0.21 EPS, Q3 2024 earnings at $0.88 EPS and Q4 2024 earnings at $0.92 EPS.

A number of other analysts also recently issued reports on ENPH. BMO Capital Markets cut their price target on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a report on Wednesday. Canaccord Genuity Group cut their price target on shares of Enphase Energy from $132.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler restated a “neutral” rating and set a $111.00 price target (down previously from $113.00) on shares of Enphase Energy in a report on Wednesday. Oppenheimer raised their price target on shares of Enphase Energy from $133.00 to $134.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Roth Mkm restated a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a report on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $141.00.

Enphase Energy Stock Down 5.6 %

ENPH stock opened at $107.17 on Thursday. The firm has a 50-day moving average of $119.28 and a two-hundred day moving average of $111.97. The company has a market cap of $14.57 billion, a price-to-earnings ratio of 55.82, a PEG ratio of 3.24 and a beta of 1.47. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $228.36.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.34%.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently modified their holdings of the company. Bogart Wealth LLC purchased a new stake in shares of Enphase Energy during the 4th quarter worth $26,000. CVA Family Office LLC acquired a new stake in Enphase Energy during the 4th quarter worth $31,000. Parkside Financial Bank & Trust raised its stake in Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 176 shares in the last quarter. Covestor Ltd raised its stake in Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 shares in the last quarter. Finally, Addison Advisors LLC raised its stake in Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 304 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the sale, the director now directly owns 3,126 shares of the company’s stock, valued at $376,964.34. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock valued at $4,054,428 in the last 90 days. Company insiders own 3.40% 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.