ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $1.39 Consensus Target Price from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has received an average recommendation of "Hold" from the twelve research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $1.39.

CHPT has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research note on Thursday, April 10th. 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. Evercore ISI downgraded ChargePoint from an "outperform" rating to an "in-line" rating and lowered their price target for the company 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. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a report on Thursday, June 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CHPT. Toronto Dominion Bank bought a new position in ChargePoint in the fourth quarter valued at about $8,746,000. Millennium Management LLC lifted its holdings in ChargePoint by 13,605.0% in the fourth quarter. Millennium Management LLC now owns 2,857,349 shares of the company's stock valued at $3,057,000 after acquiring an additional 2,836,500 shares during the period. AQR Capital Management LLC lifted its holdings in ChargePoint by 6,429.1% in the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company's stock valued at $1,553,000 after acquiring an additional 2,638,182 shares during the period. GMT Capital Corp bought a new position in ChargePoint in the first quarter valued at about $1,226,000. Finally, Goldman Sachs Group Inc. lifted its holdings in ChargePoint by 61.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company's stock valued at $2,293,000 after acquiring an additional 1,448,114 shares during the period. Institutional investors own 37.77% of the company's stock.

ChargePoint Stock Down 2.7%

Shares of NYSE CHPT traded down $0.02 during trading on Wednesday, reaching $0.76. The company had a trading volume of 11,193,535 shares, compared to its average volume of 17,439,675. ChargePoint has a 12-month low of $0.51 and a 12-month high of $2.44. The stock has a market cap of $350.43 million, a PE ratio of -1.03 and a beta of 2.25. The business's 50-day moving average is $0.66 and its 200 day moving average is $0.84. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. The company had revenue of $97.64 million during the quarter, compared to analysts' expectations of $100.43 million. During the same period in the prior year, the company posted ($0.11) earnings per share. As a group, equities analysts forecast that ChargePoint will post -0.57 earnings per share for the current fiscal year.

ChargePoint Company Profile

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.