ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Average Rating of "Hold" from Brokerages

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

CHPT has been the subject of several recent analyst reports. UBS Group cut their target price on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $1.00 price target on shares of ChargePoint in a research report on Thursday, June 5th. Needham & Company LLC reiterated a "hold" rating on shares of ChargePoint in a research report on Thursday, June 5th. Evercore ISI cut shares of ChargePoint from an "outperform" rating to an "in-line" rating and decreased their price objective for the company from $4.00 to $1.00 in a research note on Monday, March 31st. Finally, The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research note on Thursday, April 10th.

Institutional Trading of ChargePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perennial Advisors LLC bought a new stake in shares of ChargePoint during the fourth quarter worth $26,000. 111 Capital bought a new stake in shares of ChargePoint during the fourth quarter worth $26,000. Brevan Howard Capital Management LP bought a new stake in shares of ChargePoint during the fourth quarter worth $27,000. Focus Partners Wealth bought a new stake in shares of ChargePoint in the first quarter worth $27,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of ChargePoint in the first quarter worth $33,000. Institutional investors own 37.77% of the company's stock.

ChargePoint Trading Up 1.4%

Shares of CHPT traded up $0.01 during trading hours on Friday, reaching $0.72. The stock had a trading volume of 5,437,313 shares, compared to its average volume of 17,479,111. The company has a quick ratio of 1.12, a current ratio of 1.82 and a debt-to-equity ratio of 2.60. ChargePoint has a 52 week low of $0.51 and a 52 week high of $2.44. The firm has a 50-day moving average of $0.70 and a 200 day moving average of $0.78. The company has a market cap of $328.07 million, a P/E ratio of -1.19 and a beta of 2.23.

ChargePoint (NYSE:CHPT - Get Free Report) last released its quarterly earnings data 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 net margin of 65.79% and a negative return on equity of 131.65%. The firm had revenue of $97.64 million during the quarter, compared to the consensus estimate of $100.43 million. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, sell-side analysts expect 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.