Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Target Price at $1.52

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have been given an average rating of "Hold" by the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $1.52.

A number of equities analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a report on Wednesday, March 5th. Evercore ISI lowered ChargePoint from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $4.00 to $1.00 in a report on Monday, March 31st. UBS Group lowered their price target on ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus lowered their price target on ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a report on Monday, March 10th. Finally, The Goldman Sachs Group lowered their price target on ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a report on Thursday, April 10th.

ChargePoint Stock Performance

Shares of CHPT traded up $0.04 during midday trading on Friday, reaching $0.73. 14,585,042 shares of the stock were exchanged, compared to its average volume of 16,856,328. The business's 50-day moving average price is $0.63 and its 200 day moving average price is $0.88. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. ChargePoint has a twelve month low of $0.51 and a twelve month high of $2.44. The company has a market capitalization of $336.32 million, a price-to-earnings ratio of -0.99 and a beta of 2.22.

ChargePoint (NYSE:CHPT - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The firm had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. On average, sell-side analysts expect that ChargePoint will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On ChargePoint

A number of institutional investors have recently added to or reduced their stakes in CHPT. Perennial Advisors LLC purchased a new stake in ChargePoint in the 4th quarter valued at approximately $26,000. 111 Capital purchased a new stake in shares of ChargePoint during the 4th quarter worth approximately $26,000. Brevan Howard Capital Management LP purchased a new stake in shares of ChargePoint during the 4th quarter worth approximately $27,000. Focus Partners Wealth purchased a new stake in shares of ChargePoint during the 1st quarter worth approximately $27,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of ChargePoint during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 37.77% of the company's stock.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.