Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $2.65

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) have earned an average rating of "Hold" from the twenty ratings firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $2.65.

CHPT has been the subject of several research reports. Wolfe Research initiated coverage on shares of ChargePoint in a report on Thursday, September 5th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. downgraded shares of ChargePoint from an "overweight" rating to an "underweight" rating in a report on Thursday, October 3rd. TD Cowen downgraded shares of ChargePoint from a "buy" rating to a "hold" rating and dropped their target price for the company from $3.00 to $2.00 in a report on Thursday, September 5th. Needham & Company LLC dropped their target price on shares of ChargePoint from $3.00 to $2.00 and set a "buy" rating for the company in a report on Thursday, September 5th. Finally, Capital One Financial upgraded shares of ChargePoint to a "strong-buy" rating in a report on Tuesday, September 17th.

Insider Transactions at ChargePoint

In other news, CEO Richard Wilmer sold 27,252 shares of ChargePoint stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the sale, the chief executive officer now directly owns 2,304,489 shares of the company's stock, valued at approximately $3,111,060.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Richard Wilmer sold 27,252 shares of ChargePoint stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total transaction of $36,790.20. Following the completion of the sale, the chief executive officer now directly owns 2,304,489 shares of the company's stock, valued at approximately $3,111,060.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Henrik Gerdes sold 26,288 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $1.32, for a total transaction of $34,700.16. Following the completion of the sale, the chief accounting officer now directly owns 390,596 shares of the company's stock, valued at approximately $515,586.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,803 shares of company stock valued at $135,295. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Advocates Investment Management purchased a new stake in ChargePoint in the third quarter valued at $29,000. Ballentine Partners LLC purchased a new stake in ChargePoint in the third quarter valued at $61,000. International Assets Investment Management LLC grew its position in ChargePoint by 32.9% during the 3rd quarter. International Assets Investment Management LLC now owns 60,403 shares of the company's stock worth $830,000 after purchasing an additional 14,963 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in ChargePoint in the third quarter valued at $324,000. Finally, Creative Planning raised its holdings in shares of ChargePoint by 8.8% in the third quarter. Creative Planning now owns 205,008 shares of the company's stock valued at $281,000 after buying an additional 16,645 shares during the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Trading Down 0.4 %

Shares of NYSE CHPT traded down $0.01 during midday trading on Tuesday, reaching $1.28. 8,005,929 shares of the stock were exchanged, compared to its average volume of 13,430,291. The company has a 50 day simple moving average of $1.45 and a 200 day simple moving average of $1.63. The stock has a market capitalization of $550.26 million, a P/E ratio of -1.29 and a beta of 1.69. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. ChargePoint has a twelve month low of $1.21 and a twelve month high of $3.54.

ChargePoint (NYSE:CHPT - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.15). The business had revenue of $108.54 million during the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. As a group, equities analysts expect that ChargePoint will post -0.56 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.