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

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

Several equities research analysts recently issued reports on CHPT shares. The Goldman Sachs Group dropped their price target on ChargePoint from $1.00 to $0.75 and set a "sell" rating on the stock in a research report on Thursday, February 20th. Needham & Company LLC reissued a "hold" rating on shares of ChargePoint in a research note on Wednesday, March 5th. 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 note on Thursday, December 5th. UBS Group set a $1.50 price objective on ChargePoint in a research report on Wednesday, March 5th. Finally, Evercore ISI cut ChargePoint from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $4.00 to $1.00 in a research report on Monday.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 111 Capital acquired a new stake in shares of ChargePoint in the fourth quarter valued at $26,000. Perennial Advisors LLC bought a new stake in ChargePoint in the fourth quarter worth about $26,000. Tidal Investments LLC lifted its holdings in ChargePoint by 43.6% in the 4th quarter. Tidal Investments LLC now owns 466,751 shares of the company's stock valued at $499,000 after acquiring an additional 141,617 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of ChargePoint during the 4th quarter valued at about $8,746,000. Finally, ProShare Advisors LLC grew its stake in shares of ChargePoint by 51.9% in the 4th quarter. ProShare Advisors LLC now owns 111,447 shares of the company's stock worth $119,000 after purchasing an additional 38,094 shares during the last quarter. 37.77% of the stock is owned by institutional investors.

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ChargePoint Stock Down 1.4 %

Shares of CHPT traded down $0.01 during midday trading on Friday, reaching $0.61. 26,592,871 shares of the company were exchanged, compared to its average volume of 17,095,500. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. ChargePoint has a 1-year low of $0.56 and a 1-year high of $2.44. The company has a market cap of $269.83 million, a price-to-earnings ratio of -0.82 and a beta of 1.85. The stock has a 50-day moving average price of $0.77 and a 200-day moving average price of $1.07.

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