ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $2.03 Average Price Target from Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have been given an average recommendation of "Hold" by the twelve analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $1.66.

CHPT has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on ChargePoint from $1.00 to $0.75 and set a "sell" rating on the stock in a report on Thursday, February 20th. Evercore ISI lowered shares of ChargePoint from an "outperform" rating to an "in-line" rating and decreased their price objective for the stock from $4.00 to $1.00 in a research note on Monday. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research note on Wednesday, March 5th. Stifel Nicolaus reduced their target price on ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a report on Monday, March 10th. Finally, UBS Group set a $1.50 price target on ChargePoint in a report on Wednesday, March 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CHPT. JPMorgan Chase & Co. raised its position in shares of ChargePoint by 5.7% in the third 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. Jeppson Wealth Management LLC lifted its position in ChargePoint by 32.8% during the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company's stock worth $61,000 after acquiring an additional 14,085 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in ChargePoint by 61.1% during the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after acquiring an additional 17,075 shares during the period. Swiss National Bank grew its position in shares of ChargePoint by 2.2% in the fourth 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in shares of ChargePoint by 131.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company's stock worth $50,000 after purchasing an additional 20,773 shares during the period. 37.77% of the stock is owned by institutional investors.

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ChargePoint Price Performance

Shares of CHPT stock traded up $0.00 during midday trading on Friday, reaching $0.61. 14,218,114 shares of the company were exchanged, compared to its average volume of 17,084,087. ChargePoint has a 12 month low of $0.56 and a 12 month high of $2.44. The company has a market cap of $268.50 million, a P/E ratio of -0.82 and a beta of 1.85. The company's 50 day moving average price is $0.77 and its two-hundred day moving average price is $1.07. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94.

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