ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Consensus Rating of "Hold" from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the twelve analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $1.52.

Several research analysts have recently commented on CHPT shares. Evercore ISI lowered shares of ChargePoint from an "outperform" rating to an "in-line" rating and decreased their price target for the company from $4.00 to $1.00 in a report on Monday, March 31st. UBS Group lowered their target price on ChargePoint from $0.70 to $0.65 and set a "neutral" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group cut their price target on ChargePoint from $0.75 to $0.50 and set a "sell" rating on the stock in a report on Thursday, April 10th. 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 note on Monday, March 10th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ChargePoint in a research note on Wednesday, March 5th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHPT. Toronto Dominion Bank purchased a new position in shares of ChargePoint during the fourth quarter valued at $8,746,000. Millennium Management LLC grew its holdings in shares of ChargePoint by 13,605.0% during the 4th quarter. Millennium Management LLC now owns 2,857,349 shares of the company's stock valued at $3,057,000 after acquiring an additional 2,836,500 shares in the last quarter. Invesco Ltd. increased its stake in shares of ChargePoint by 13.1% in the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company's stock worth $5,382,000 after acquiring an additional 583,761 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 399,070 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in ChargePoint by 124.0% during the fourth quarter. XTX Topco Ltd now owns 691,636 shares of the company's stock valued at $740,000 after purchasing an additional 382,850 shares during the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Stock Up 2.6 %

Shares of ChargePoint stock traded up $0.02 on Tuesday, hitting $0.61. 8,380,148 shares of the company's stock traded hands, compared to its average volume of 17,190,081. ChargePoint has a 52-week low of $0.51 and a 52-week high of $2.44. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The stock has a market cap of $281.15 million, a P/E ratio of -0.83 and a beta of 2.05. The firm's 50-day moving average is $0.65 and its 200 day moving average is $0.97.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its quarterly earnings data 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 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%. Equities analysts anticipate 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.