Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $2.41

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has received an average rating of "Hold" from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.13.

CHPT has been the topic of several analyst reports. Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a research report on Wednesday. Royal Bank of Canada dropped their price target on shares of ChargePoint from $2.50 to $2.00 and set a "sector perform" rating on the stock in a research report on Thursday, December 5th. Benchmark restated a "buy" rating and set a $3.00 price target on shares of ChargePoint in a research report on Wednesday, November 20th. The Goldman Sachs Group decreased their price objective on shares of ChargePoint from $1.00 to $0.75 and set a "sell" rating on the stock in a report on Thursday, February 20th. Finally, UBS Group decreased their price objective on shares of ChargePoint from $1.50 to $1.30 and set a "neutral" rating on the stock in a report on Tuesday, December 10th.

Insider Transactions at ChargePoint

In other news, CAO Henrik Gerdes sold 28,536 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $1.14, for a total value of $32,531.04. Following the transaction, the chief accounting officer now directly owns 362,060 shares of the company's stock, valued at approximately $412,748.40. This trade represents a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mansi Khetani sold 22,038 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $1.14, for a total transaction of $25,123.32. Following the completion of the transaction, the chief financial officer now directly owns 1,230,305 shares in the company, valued at approximately $1,402,547.70. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,148 shares of company stock valued at $99,349. Corporate insiders own 3.50% of the company's stock.

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Hedge Funds Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of the business. Perennial Advisors LLC purchased a new position in ChargePoint during the fourth quarter worth about $26,000. Brevan Howard Capital Management LP purchased a new position in ChargePoint during the fourth quarter worth about $27,000. Financial Advocates Investment Management purchased a new position in ChargePoint during the third quarter worth about $29,000. Cibc World Markets Corp purchased a new position in ChargePoint during the fourth quarter worth about $40,000. Finally, Callan Family Office LLC purchased a new position in ChargePoint during the fourth quarter worth about $45,000. 37.77% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Stock Performance

Shares of NYSE:CHPT traded up $0.04 during midday trading on Monday, reaching $0.74. The company's stock had a trading volume of 22,701,144 shares, compared to its average volume of 29,111,520. The firm has a market capitalization of $325.12 million, a PE ratio of -0.99 and a beta of 1.85. ChargePoint has a twelve month low of $0.56 and a twelve month high of $2.44. The stock has a fifty day moving average of $0.91 and a 200 day moving average of $1.19. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65.

ChargePoint (NYSE:CHPT - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, equities analysts expect that ChargePoint will post -0.57 EPS for the current fiscal year.

About ChargePoint

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.