We study the effect of noise on the axial mode of an electron in a Penning trap under parametric-resonance conditions. Our approach, based on the application of averaging techniques to the description of the dynamics, provides an understanding of the random phase flips detected in recent experiments. The observed correlation between the phase jumps and the amplitude collapses is explained. Moreover, we discuss the actual relevance of noise color to the identified phase-switching mechanism. Our approach is then generalized to analyze the persistence of the stochastic phase flips in the dynamics of a cloud of N electrons. In particular, we characterize the detected scaling of the phase-jump rate with the number of electrons.