UBS Group Has Lowered Expectations for ChargePoint (NYSE:CHPT) Stock Price

ChargePoint (NYSE:CHPT - Get Free Report) had its price target lowered by research analysts at UBS Group from $0.70 to $0.65 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 15.25% from the stock's previous close.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus reduced their price target on shares of ChargePoint from $2.00 to $1.00 and set a "hold" rating for the company in a report on Monday, March 10th. 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. Needham & Company LLC reaffirmed a "hold" rating on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, Evercore ISI downgraded shares of ChargePoint from an "outperform" rating to an "in-line" rating and reduced their price target for the company from $4.00 to $1.00 in a research report on Monday, March 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $1.52.

ChargePoint Price Performance

Shares of NYSE CHPT traded down $0.01 during midday trading on Thursday, reaching $0.56. 5,399,467 shares of the company were exchanged, compared to its average volume of 17,308,382. The stock has a market cap of $258.43 million, a P/E ratio of -0.76 and a beta of 2.05. ChargePoint has a one year low of $0.51 and a one year 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's 50-day moving average price is $0.66 and its 200-day moving average price is $0.99.

ChargePoint (NYSE:CHPT - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $101.89 million during 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%. On average, sell-side analysts anticipate that ChargePoint will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Perennial Advisors LLC bought a new position in shares of ChargePoint during the fourth quarter valued at $26,000. 111 Capital bought a new stake in shares of ChargePoint during the fourth quarter valued at approximately $26,000. Brevan Howard Capital Management LP bought a new position in ChargePoint in the 4th quarter valued at approximately $27,000. Cibc World Markets Corp bought a new position in shares of ChargePoint during the fourth quarter valued at $40,000. Finally, Callan Family Office LLC purchased a new stake in ChargePoint in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 37.77% of the company's stock.

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.