Q2 2024 EPS Estimates for Enphase Energy, Inc. (NASDAQ:ENPH) Cut by B. Riley

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities research analysts at B. Riley decreased their Q2 2024 earnings per share estimates for Enphase Energy in a research report issued to clients and investors on Wednesday, April 24th. B. Riley analyst C. Souther now expects that the semiconductor company will post earnings of $0.25 per share for the quarter, down from their prior estimate of $0.40. B. Riley currently has a “Buy” rating and a $149.00 price target on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. B. Riley also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $1.66 EPS and FY2025 earnings at $3.56 EPS.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company reduced their price target on Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler reissued a “neutral” rating and issued a $111.00 target price (down from $113.00) on shares of Enphase Energy in a research report on Wednesday, April 24th. JPMorgan Chase & Co. cut their target price on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. TD Cowen upped their target price on Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Guggenheim downgraded Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 target price on the stock. in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Stock Performance

Shares of NASDAQ:ENPH opened at $108.76 on Monday. The firm has a 50 day moving average of $117.46 and a 200 day moving average of $111.56. The company has a market capitalization of $14.80 billion, a price-to-earnings ratio of 57.29, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $192.22.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping 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 31.89%.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now owns 1,655,171 shares in the company, valued at $199,514,312.34. The disclosure for this purchase can be found here. Insiders sold a total of 54,285 shares of company stock worth $6,148,228 in the last 90 days. Insiders own 3.40% of the company’s stock.

Institutional Trading of Enphase Energy

A number of hedge funds have recently bought and sold shares of ENPH. Bogart Wealth LLC acquired a new stake in Enphase Energy in the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new stake in Enphase Energy in the 4th quarter valued at about $31,000. YHB Investment Advisors Inc. acquired a new stake in Enphase Energy in the 1st quarter valued at about $35,000. Parkside Financial Bank & Trust raised its holdings in Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of 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 buying an additional 133 shares during the last quarter. 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.