ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $27.88 Consensus PT from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has earned a consensus recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $27.8750.

A number of research analysts have recently weighed in on CHPT shares. UBS Group cut their price target on shares of ChargePoint from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of ChargePoint in a research report on Thursday, June 5th. TD Cowen raised ChargePoint to a “hold” rating in a report on Monday, July 7th. The Goldman Sachs Group cut their price objective on ChargePoint from $15.00 to $10.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $20.00 price target on shares of ChargePoint in a report on Thursday, June 5th.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in ChargePoint during the fourth quarter valued at about $354,000. Corient Private Wealth LLC grew its holdings in shares of ChargePoint by 96.9% during the 4th quarter. Corient Private Wealth LLC now owns 65,765 shares of the company’s stock worth $70,000 after purchasing an additional 32,364 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of ChargePoint in the fourth quarter valued at $85,000. Geode Capital Management LLC raised its stake in shares of ChargePoint by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 9,276,632 shares of the company’s stock valued at $9,929,000 after purchasing an additional 204,464 shares in the last quarter. Finally, Perennial Investment Advisors LLC boosted its stake in ChargePoint by 175.3% during the fourth quarter. Perennial Investment Advisors LLC now owns 54,650 shares of the company’s stock worth $58,000 after buying an additional 34,800 shares in the last quarter. Institutional investors own 37.77% of the company’s stock.

ChargePoint Price Performance

NYSE CHPT opened at $9.93 on Thursday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.82 and a quick ratio of 1.12. The firm has a market capitalization of $227.54 million, a price-to-earnings ratio of -0.83 and a beta of 2.23. The company has a 50 day simple moving average of $13.29 and a 200-day simple moving average of $13.88. ChargePoint has a 52-week low of $8.55 and a 52-week high of $40.00.

ChargePoint (NYSE:CHPT) last released its earnings results on Wednesday, June 4th. The company reported ($2.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.00). 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 during the quarter, compared to analysts’ expectations of $100.43 million. During the same quarter in the previous year, the company earned ($2.20) EPS. Equities research analysts predict 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.