Thirty-one brokerages currently cover Enphase Energy, assigning the stock an average rating of “Reduce.” Ten firms recommend selling, fourteen recommend holding and seven advise buying. Over the past year, analysts have set an average 12-month price target of $41.09. Notable changes include Zacks Research downgrading from strong-buy to hold on October 30, Morgan Stanley cutting its underweight target from $28.00 to $26.00 on that same date, and TD Cowen trimming its hold target from $40.00 to $35.00 on October 29. Conversely, Northland Securities raised its outperform target from $52.00 to $62.00 on December 29, while Loop Capital established a $31.00 target on October 30.

Director Thurman J. Rodgers sold 150,000 shares on December 2 at an average price of $29.13, reducing his stake by 7.96% to 1,733,596 shares. In contrast, CEO Badrinarayanan Kothandaraman bought 5,000 shares on November 10 at $30.69 apiece, increasing his holdings by 0.31% to 1,635,632 shares. Insiders now hold 3.10% of outstanding shares, signaling mixed confidence among company insiders.

Major funds have materially adjusted positions in recent quarters. Invesco Ltd. increased its stake by 28.1% in Q2, adding 1.48 million shares to reach 6.74 million shares. Geode Capital Management added 73,459 shares for a 2.1% boost to 3.54 million shares. Coatue Management nearly doubled its holding in Q3, acquiring 803,945 shares to total 1.65 million. Federated Hermes added 141,358 shares (9.6% increase) to reach 1.62 million, and First Trust Advisors bought 49,745 shares (5.0% rise) to hold 1.05 million. Combined, institutional investors now own 72.12% of Enphase stock.

For the quarter ended September 30, Enphase reported revenue of $410.4 million, exceeding the consensus of $364.6 million and marking a 7.8% year-over-year increase. Adjusted EPS came in at $0.90, $0.30 ahead of the street’s $0.60 estimate. The company achieved a net margin of 12.93% and a return on equity of 25.67%. However, management warned that the end of the federal residential solar tax credit may dampen demand in 2026, prompting a workforce reduction plan to cut roughly 6% of headcount and relocate select functions to lower-cost regions.