Enphase Energy Given New $17.00 Price Target at Northland Securities (ENPH)
Equities researchers at Northland Securities upped their price objective on shares of Enphase Energy (NASDAQ:ENPH) from $13.00 to $17.00 in a research report issued on Tuesday. The firm currently has an “outperform” rating on the stock. Northland Securities’ target price would indicate a potential upside of 23.64% from the stock’s previous close.
In other Enphase Energy news, major shareholder Madrone Partners, L.P. sold 800,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $10.03, for a total value of $8,024,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Enphase Energy (NASDAQ:ENPH) opened at 13.75 on Tuesday. Enphase Energy has a one year low of $4.54 and a one year high of $14.25. The stock’s 50-day moving average is $11.02 and its 200-day moving average is $8.84. The company’s market cap is $590.5 million.
Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.02) by $0.01. The company had revenue of $82.00 million for the quarter, compared to the consensus estimate of $71.11 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 40.9% on a year-over-year basis. On average, analysts predict that Enphase Energy will post $0.04 earnings per share for the current fiscal year.
ENPH has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC initiated coverage on shares of Enphase Energy in a research note on Monday. They set a “buy” rating and a $20.00 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Enphase Energy from $12.00 to $13.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Enphase Energy in a research note on Wednesday, August 6th. They now have a $12.00 price target on the stock, up previously from $11.00. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Enphase Energy currently has a consensus rating of “Buy” and an average price target of $14.83.
Enphase Energy, Inc (NASDAQ:ENPH), designs, develops and sells microinverter systems for the solar photovoltaic industry.
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