ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $1.52 Consensus PT from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has received an average rating of "Hold" from the twelve ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $1.52.

CHPT has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price objective on ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a research report on Monday, March 10th. Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a report on Wednesday, March 5th. UBS Group reduced their price objective on shares of ChargePoint from $0.70 to $0.65 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Evercore ISI downgraded shares of ChargePoint from an "outperform" rating to an "in-line" rating and lowered their target price for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. Finally, The Goldman Sachs Group cut their price target on shares of ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a research report on Thursday, April 10th.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently made changes to their positions in CHPT. State Street Corp boosted its holdings in ChargePoint by 1.4% in the third quarter. State Street Corp now owns 10,297,421 shares of the company's stock worth $14,107,000 after acquiring an additional 142,767 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ChargePoint by 4.6% during the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company's stock worth $12,432,000 after purchasing an additional 399,070 shares during the period. Franklin Resources Inc. bought a new position in shares of ChargePoint in the 3rd quarter worth $117,000. JPMorgan Chase & Co. grew its position in ChargePoint by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company's stock valued at $243,000 after purchasing an additional 9,519 shares during the period. Finally, Inspire Investing LLC increased its stake in ChargePoint by 25.1% during the 4th quarter. Inspire Investing LLC now owns 375,860 shares of the company's stock valued at $402,000 after purchasing an additional 75,362 shares in the last quarter. Institutional investors own 37.77% of the company's stock.

ChargePoint Trading Up 2.6 %

NYSE CHPT traded up $0.02 during trading hours on Tuesday, reaching $0.68. The company's stock had a trading volume of 11,398,242 shares, compared to its average volume of 17,184,920. The firm has a fifty day simple moving average of $0.64 and a 200-day simple moving average of $0.96. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.94 and a quick ratio of 1.24. ChargePoint has a 52 week low of $0.51 and a 52 week high of $2.44. The stock has a market cap of $313.73 million, a P/E ratio of -0.93 and a beta of 2.05.

ChargePoint (NYSE:CHPT - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $101.89 million for the quarter, compared to the consensus estimate of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. Equities analysts forecast 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.