ChargePoint (NYSE:CHPT) Lowered to "In-Line" Rating by Evercore ISI

ChargePoint (NYSE:CHPT - Get Free Report) was downgraded by analysts at Evercore ISI from an "outperform" rating to an "in-line" rating in a note issued to investors on Monday, MarketBeat.com reports. They presently have a $1.00 price objective on the stock, down from their prior price objective of $4.00. Evercore ISI's target price points to a potential upside of 64.74% from the stock's previous close.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group decreased their price objective on ChargePoint from $1.00 to $0.75 and set a "sell" rating for the company in a research report on Thursday, February 20th. Stifel Nicolaus decreased 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. Needham & Company LLC reiterated a "hold" rating on shares of ChargePoint in a research note on Wednesday, March 5th. Royal Bank of Canada decreased their target price on shares of ChargePoint from $2.50 to $2.00 and set a "sector perform" rating for the company in a research note on Thursday, December 5th. Finally, UBS Group set a $1.50 price target on shares of ChargePoint in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $1.66.

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ChargePoint Trading Up 0.3 %

CHPT traded up $0.00 during trading on Monday, reaching $0.61. The company had a trading volume of 14,223,764 shares, compared to its average volume of 17,077,086. The firm's 50-day simple moving average is $0.76 and its 200 day simple moving average 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. The company has a market cap of $268.50 million, a price-to-earnings ratio of -0.82 and a beta of 1.85. ChargePoint has a 12-month low of $0.56 and a 12-month high of $2.44.

ChargePoint (NYSE:CHPT - Get Free Report) last released its earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $100.99 million. Equities research analysts anticipate that ChargePoint will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On ChargePoint

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of ChargePoint by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company's stock worth $243,000 after buying an additional 9,519 shares during the last quarter. Jeppson Wealth Management LLC boosted its position in ChargePoint by 32.8% during the fourth quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company's stock valued at $61,000 after purchasing an additional 14,085 shares during the last quarter. Jones Financial Companies Lllp grew its stake in ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company's stock valued at $48,000 after purchasing an additional 17,075 shares in the last quarter. Swiss National Bank increased its position in shares of ChargePoint by 2.2% during the 4th quarter. Swiss National Bank now owns 806,400 shares of the company's stock worth $863,000 after purchasing an additional 17,600 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of ChargePoint by 131.0% during the 3rd 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 last quarter. Institutional investors own 37.77% of the company's stock.

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.