ChargePoint's (CHPT) Sector Perform Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its Sector Perform rating on ChargePoint and kept a $6.50 price target, which implies downside from the stock’s prior close.
• Analyst sentiment remains cautious overall: the stock now carries a consensus rating of “Reduce” with an average target price of $8.63, and recent moves from other firms have mostly been hold or neutral calls.
• ChargePoint recently beat revenue expectations with $101.82 million in quarterly sales, but it also posted a wider-than-expected loss of $1.75 per share, highlighting ongoing profitability pressure.

ChargePoint (NYSE:CHPT - Get Free Report)'s stock had its "sector perform" rating reissued by Royal Bank Of Canada in a research note issued to investors on Thursday,Benzinga reports. They currently have a $6.50 target price on the stock. Royal Bank Of Canada's target price points to a potential downside of 13.85% from the company's previous close.

Several other equities research analysts also recently issued reports on the company. B. Riley Financial decreased their price target on ChargePoint from $11.00 to $6.00 and set a "neutral" rating for the company in a report on Friday, March 13th. Wall Street Zen upgraded shares of ChargePoint from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. UBS Group cut their price target on shares of ChargePoint from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Monday, March 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of ChargePoint in a research note on Monday, April 20th. Finally, Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $8.63.

ChargePoint Price Performance

CHPT stock opened at $7.55 on Thursday. The company's fifty day simple moving average is $6.24 and its 200 day simple moving average is $6.65. ChargePoint has a 12-month low of $4.44 and a 12-month high of $17.40. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 10.73. The firm has a market cap of $178.44 million, a price-to-earnings ratio of -0.82 and a beta of 1.74.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.64). ChargePoint had a negative net margin of 53.55% and a negative return on equity of 276.06%. The business had revenue of $101.82 million for the quarter, compared to the consensus estimate of $95.64 million. On average, analysts expect that ChargePoint will post -6.59 earnings per share for the current year.

Insider Activity

In related news, CEO Richard Wilmer purchased 46,847 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average price of $5.34 per share, with a total value of $250,162.98. Following the acquisition, the chief executive officer owned 511,224 shares of the company's stock, valued at $2,729,936.16. This trade represents a 10.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 8,685 shares of company stock worth $46,031. Company insiders own 4.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CHPT. Rothschild Investment LLC increased its holdings in ChargePoint by 233.3% in the 4th quarter. Rothschild Investment LLC now owns 5,000 shares of the company's stock worth $33,000 after acquiring an additional 3,500 shares during the last quarter. Pilgrim Partners Asia Pte Ltd lifted its holdings in ChargePoint by 56.4% during the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 8,600 shares of the company's stock valued at $57,000 after purchasing an additional 3,100 shares during the last quarter. Hsbc Holdings PLC bought a new position in ChargePoint during the fourth quarter worth about $73,000. EFG International AG purchased a new position in shares of ChargePoint in the fourth quarter worth about $72,000. Finally, R Squared Ltd bought a new stake in shares of ChargePoint in the first quarter valued at approximately $59,000. Hedge funds and other institutional investors own 37.77% of the company's stock.

Trending Headlines about ChargePoint

Here are the key news stories impacting ChargePoint this week:

• Positive Sentiment: ChargePoint beat revenue expectations, reporting $101.82 million versus the $95.64 million consensus, and several coverage pieces highlighted improving operating metrics and strategic product momentum. ChargePoint Holdings, Inc. (CHPT) Reports Q1 Loss, Tops Revenue Estimates
• Positive Sentiment: The company guided Q2 FY2027 revenue to $100 million-$110 million, with the midpoint slightly above Wall Street estimates, which suggests some near-term top-line support as Express Solo ramps. ChargePoint expects $100M-$110M Q2 FY2027 revenue as Express Solo ramps
• Neutral Sentiment: Needham & Company reaffirmed its Hold rating on CHPT, indicating the latest results were not enough to trigger a more bullish stance from at least one analyst. ChargePoint had its "hold" rating reaffirmed by Needham & Company LLC.
• Negative Sentiment: Despite the revenue beat, ChargePoint posted a wider-than-expected GAAP loss of $1.75 per share versus the $1.11 estimate, keeping pressure on sentiment around profitability and cash burn. ChargePoint Holdings, Inc. (CHPT) Reports Q1 Loss, Tops Revenue Estimates
• Negative Sentiment: Commentary from Seeking Alpha described ChargePoint as still in “rough shape,” citing ongoing investor skepticism, increased cash burn, and a weakened balance sheet despite some margin improvement. ChargePoint Remains In Rough Shape

About ChargePoint

ChargePoint NYSE: CHPT is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company's portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint's integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.

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