#2 - ChargePoint (NYSE:CHPT)
You may be unsure about which electric vehicle stock (if any) to invest in. However, this is a sector you can’t afford not to invest in. At least on a national scale, one missing link is a charging infrastructure. That’s where ChargePoint, Inc. (NYSE: CHPT) comes in.
Investing in CHPT stock is also an indirect way to invest in the growth of EVs. The federal government is offering consumers tax rebates for buying EVs. And while the supply is limited now, many manufacturers will be significantly increasing their supply by 2025, and certainly by 2030.
And analyst research concludes that if the United States wants 100% passenger EV sales by 2035, then there will need to be approximately $40 billion dollars invested in publicly accessible charging infrastructure over the next 10 years.
To put that into context, ChargePoint produced less than $500 million in revenue in the trailing 12 months at this writing. And as the market share leader, it stands to get a significant chunk of that $40 billion even with other competitors in this space.
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.
More about ChargePoint- Current Price
- $0.58
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 8 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $1.66 (187.0% Upside)
