UBS Group Lowers ChargePoint (NYSE:CHPT) Price Target to $0.65

ChargePoint (NYSE:CHPT - Get Free Report) had its price objective cut by stock analysts at UBS Group from $0.70 to $0.65 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. UBS Group's price objective indicates a potential upside of 5.20% from the stock's current price.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating on the stock in a research note on Monday, March 10th. Evercore ISI lowered shares of ChargePoint from an "outperform" rating to an "in-line" rating and reduced their target price for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating for the company in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $1.52.

ChargePoint Stock Up 3.3 %

NYSE CHPT traded up $0.02 on Thursday, hitting $0.62. 5,857,992 shares of the company were exchanged, compared to its average volume of 17,163,655. ChargePoint has a 12 month low of $0.51 and a 12 month high of $2.44. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. The company has a market cap of $283.12 million, a PE ratio of -0.83 and a beta of 2.05. The stock has a fifty day moving average of $0.65 and a 200-day moving average of $0.98.

ChargePoint (NYSE:CHPT - Get Free Report) last issued 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 net margin of 72.62% and a negative return on equity of 106.28%. The firm had revenue of $101.89 million during the quarter, compared to the consensus estimate of $100.99 million. As a group, analysts forecast that ChargePoint will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CHPT. JPMorgan Chase & Co. lifted its stake in shares of ChargePoint by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company's stock valued at $243,000 after buying an additional 9,519 shares in the last quarter. Jeppson Wealth Management LLC lifted its holdings in shares of ChargePoint by 32.8% in the fourth quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company's stock worth $61,000 after buying an additional 14,085 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock worth $48,000 after acquiring an additional 17,075 shares during the period. Swiss National Bank boosted its holdings in ChargePoint by 2.2% in the 4th quarter. Swiss National Bank now owns 806,400 shares of the company's stock valued at $863,000 after purchasing an additional 17,600 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of ChargePoint by 9.8% during the 4th quarter. MetLife Investment Management LLC now owns 251,168 shares of the company's stock valued at $269,000 after purchasing an additional 22,369 shares in the last quarter. Institutional investors own 37.77% of the company's stock.

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.