Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Target Price at $27.88

Key Points

• ChargePoint Holdings, Inc. has received an average rating of "Hold" from eleven brokerages, with two sell recommendations and one strong buy.
• The stock’s average one-year price objective among analysts is $27.88, with current trading around $8.92.
• In the latest quarterly earnings, ChargePoint reported a loss of ($2.00) EPS, missing estimates, with revenue of $97.64 million against expectations of $100.43 million.

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has been given an average rating of "Hold" by the eleven analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $27.88.

CHPT has been the subject of a number of recent analyst reports. TD Cowen raised ChargePoint to a "hold" rating in a research report on Monday, July 7th. Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. Royal Bank Of Canada restated a "sector perform" rating and set a $20.00 price objective on shares of ChargePoint in a report on Thursday, June 5th. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $15.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group dropped their target price on shares of ChargePoint from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th.

ChargePoint Stock Up 2.8%

Shares of NYSE:CHPT traded up $0.26 during trading on Thursday, reaching $9.45. The stock had a trading volume of 662,114 shares, compared to its average volume of 979,456. The firm's 50-day simple moving average is $13.59 and its 200 day simple moving average is $14.08. The company has a current ratio of 1.82, a quick ratio of 1.12 and a debt-to-equity ratio of 2.60. ChargePoint has a one year low of $8.55 and a one year high of $40.00. The company has a market capitalization of $216.50 million, a P/E ratio of -0.79 and a beta of 2.23.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported ($2.00) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($1.00). The firm had revenue of $97.64 million during the quarter, compared to analyst estimates of $100.43 million. ChargePoint had a negative net margin of 65.79% and a negative return on equity of 131.65%. During the same quarter last year, the business earned ($2.20) earnings per share. As a group, research analysts expect that ChargePoint will post -0.57 EPS for the current fiscal year.

Institutional Trading of ChargePoint

Several large investors have recently made changes to their positions in the business. MetLife Investment Management LLC grew its holdings in ChargePoint by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 251,168 shares of the company's stock worth $269,000 after acquiring an additional 22,369 shares during the period. Raymond James Financial Inc. purchased a new position in ChargePoint in the 4th quarter valued at about $354,000. Invesco Ltd. boosted its stake in shares of ChargePoint by 13.1% in the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock worth $5,382,000 after acquiring an additional 583,761 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of ChargePoint during the fourth quarter worth $268,000. Finally, Price T Rowe Associates Inc. MD grew its stake in ChargePoint by 9.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 273,140 shares of the company's stock valued at $293,000 after acquiring an additional 23,370 shares in the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

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.