Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $1.39

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has been given an average rating of "Hold" by the eleven analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $1.39.

Several research analysts recently commented on the company. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research note on Thursday, June 5th. UBS Group lowered their price objective on ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a research report on Thursday, April 17th. TD Cowen raised ChargePoint to a "hold" rating in a research report on Monday. Evercore ISI cut ChargePoint from an "outperform" rating to an "in-line" rating and lowered their price objective for the stock from $4.00 to $1.00 in a research report on Monday, March 31st. Finally, The Goldman Sachs Group lowered their price objective on ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a research report on Thursday, April 10th.

ChargePoint Stock Up 1.5%

CHPT traded up $0.01 on Friday, hitting $0.71. 15,202,511 shares of the company were exchanged, compared to its average volume of 17,501,934. ChargePoint has a twelve month low of $0.51 and a twelve month high of $2.44. The company has a market cap of $324.91 million, a price-to-earnings ratio of -1.18 and a beta of 2.23. The company has a current ratio of 1.82, a quick ratio of 1.12 and a debt-to-equity ratio of 2.60. The firm has a 50-day moving average price of $0.70 and a two-hundred day moving average price of $0.77.

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 the consensus estimate of ($0.05) by ($0.05). ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. The company had revenue of $97.64 million for the quarter, compared to analyst estimates of $100.43 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. On average, equities analysts predict that ChargePoint will post -0.57 earnings per share for the current year.

Institutional Investors Weigh In On ChargePoint

Several large investors have recently modified their holdings of CHPT. Bank of New York Mellon Corp boosted its holdings in shares of ChargePoint by 12.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,231,255 shares of the company's stock valued at $1,317,000 after acquiring an additional 141,053 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after acquiring an additional 17,075 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ChargePoint by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,336,545 shares of the company's stock valued at $3,570,000 after acquiring an additional 85,516 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ChargePoint in the fourth quarter valued at approximately $354,000. Finally, Callan Family Office LLC acquired a new stake in shares of ChargePoint in the fourth quarter valued at approximately $45,000. 37.77% of the stock is owned by institutional investors and hedge funds.

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.