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

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at B. Riley dropped their Q1 2024 earnings estimates for Enphase Energy in a report issued on Monday, April 22nd. B. Riley analyst C. Souther now expects that the semiconductor company will post earnings of $0.18 per share for the quarter, down from their previous forecast of $0.40. B. Riley 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 $1.95 per share. B. Riley also issued estimates for Enphase Energy’s Q2 2024 earnings at $0.40 EPS, Q3 2024 earnings at $0.77 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $2.26 EPS and FY2025 earnings at $4.38 EPS.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $302.57 million for the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%.

Several other research firms have also issued reports on ENPH. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and dropped their target price for the company from $126.00 to $121.00 in a report on Friday, April 5th. Jefferies Financial Group lowered shares of Enphase Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $135.00 to $111.00 in a report on Wednesday. Truist Financial dropped their price objective on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Craig Hallum dropped their price objective on shares of Enphase Energy from $159.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Mizuho dropped their price objective on shares of Enphase Energy from $150.00 to $148.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and an average price target of $137.41.

Enphase Energy Price Performance

ENPH stock opened at $111.93 on Thursday. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.16 and a beta of 1.47. The company has a quick ratio of 4.19, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $192.22. The company’s fifty day simple moving average is $118.22 and its 200 day simple moving average is $111.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bogart Wealth LLC bought a new position in shares of Enphase Energy during the 4th quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in shares of Enphase Energy during the 4th quarter valued at approximately $31,000. YHB Investment Advisors Inc. purchased a new stake in shares of Enphase Energy during the 1st quarter valued at approximately $35,000. Parkside Financial Bank & Trust lifted its stake in shares of Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 176 shares in the last quarter. Finally, Addison Advisors LLC lifted its stake in shares of Enphase Energy by 1,447.6% during the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock valued at $43,000 after buying an additional 304 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Badrinarayanan Kothandaraman bought 4,000 shares of Enphase Energy stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average cost of $120.54 per share, with a total value of $482,160.00. Following the transaction, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at $199,514,312.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 118,360 shares of the company’s stock, valued at $12,391,108.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,285 shares of company stock valued at $6,148,228. Corporate 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.