Roth Capital analyst Philip Shen notes that Enphase Energy sold off as much as 16% intraday due in part to the misunderstanding of a standard procedure. The analyst points out that the 301 product list subjected to 25% tariffs does not include inverters or Enphase, which had become a source of concern of him and some investors. Additionally, Shen notes that in the company's recent 2017 10K, Enphase shed its going concern risk factor, which he sees as a meaningful positive. The analyst would be a buyer as he continues to see upside for the stock. He reiterates a Buy rating and $5.50 price target on the shares.

Northland lowered the firm's price target on Enphase Energy to $125 from $135 and keeps an Outperform rating on the shares. The company missed Q1 consensus revenue and earnings estimates and its 2025 numbers were meaningfully below consensus, the analyst tells investors in a research note. The firm, however, believes Q1 is the bottom of the cycle, with channel inventory cleared by the end of Q2. It expects rising utility rates, $7B in solar grants in the U.S., and growth in residential storage to reignite Enphase's growth.

Jefferies analyst Dushyant Ailani downgraded Enphase Energy to Hold from Buy with a price target of $111, down from $135. The firm expects residential macro headwinds to persist and while it says Enphase management continues to take the right steps in managing under shipment and expanding internationally, delayed interest rate cuts and weaker U.S. demand push out its forecasts for a recovery. The firm, which expects the recovery to be slower than its prior expectations, lowered its FY24 and FY25 EPS forecast to $2.91 and $4.90, which it notes are 3% and 6%, respectively, below consensus.

BMO Capital analyst Ameet Thakkar lowered the firm's price target on Enphase Energy to $113 from $118 and keeps a Market Perform rating on the shares after its Q1 earnings miss and "underwhelming" Q2 revenue guidance. The firm is also less confident in the company's ability to achieve the upper end of what it had described as $450M-500M normalized demand, reducing its FY24 EPS view to $3.28 from $3.71 and its FY25 view to $5.93 from $6.21.

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Guggenheim analyst Joseph Osha downgraded Enphase Energy to Sell from Neutral with a $92 price target.