ChargePoint (NYSE:CHPT) PT Lowered to $26.00

ChargePoint (NYSE:CHPTGet Rating) had its price target decreased by equities research analysts at Stifel Nicolaus from $32.00 to $26.00 in a research note issued to investors on Wednesday, The Fly reports. Stifel Nicolaus’ price target points to a potential upside of 67.20% from the stock’s current price.

CHPT has been the subject of several other research reports. Needham & Company LLC reduced their price target on shares of ChargePoint from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, February 22nd. Citigroup reduced their price target on shares of ChargePoint from $17.00 to $15.50 in a research report on Wednesday, June 1st. Jefferies Financial Group reduced their price target on shares of ChargePoint from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, March 3rd. DA Davidson reduced their target price on shares of ChargePoint from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, June 2nd. Finally, Piper Sandler reduced their target price on shares of ChargePoint from $20.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, June 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, ChargePoint presently has an average rating of “Moderate Buy” and a consensus target price of $21.63.

CHPT opened at $15.55 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.13 and a current ratio of 3.35. The stock has a market capitalization of $5.24 billion, a P/E ratio of -15.55 and a beta of 2.17. The company’s 50-day simple moving average is $13.05 and its two-hundred day simple moving average is $15.29. ChargePoint has a 52-week low of $8.50 and a 52-week high of $36.86.

ChargePoint (NYSE:CHPTGet Rating) last released its quarterly earnings results on Tuesday, May 31st. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. ChargePoint had a negative net margin of 107.29% and a negative return on equity of 53.96%. During the same quarter last year, the company posted ($0.18) earnings per share. Research analysts forecast that ChargePoint will post -0.94 EPS for the current fiscal year.

In other news, CEO Pasquale Romano sold 250,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $13.03, for a total transaction of $3,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 4,145,304 shares in the company, valued at approximately $54,013,311.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William J. Loewenthal sold 4,026 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $12.92, for a total value of $52,015.92. Following the transaction, the insider now owns 443,512 shares of the company’s stock, valued at $5,730,175.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,161,993 shares of company stock valued at $32,655,130. Insiders own 23.64% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D bought a new stake in ChargePoint in the fourth quarter worth $2,239,000. State Board of Administration of Florida Retirement System lifted its position in ChargePoint by 237.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 118,751 shares of the company’s stock worth $2,262,000 after buying an additional 83,549 shares during the last quarter. Van ECK Associates Corp bought a new stake in ChargePoint in the fourth quarter worth $1,064,000. Cetera Investment Advisers increased its stake in ChargePoint by 23.6% in the fourth quarter. Cetera Investment Advisers now owns 250,574 shares of the company’s stock worth $4,773,000 after purchasing an additional 47,766 shares during the period. Finally, Sigma Planning Corp purchased a new stake in ChargePoint in the fourth quarter worth $779,000. Institutional investors own 51.11% of the company’s stock.

ChargePoint Company Profile (Get Rating)

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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