ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $2.03 Average Price Target from Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $1.66.

Several research analysts have recently weighed in on CHPT shares. The Goldman Sachs Group reduced their price target on shares of ChargePoint from $1.00 to $0.75 and set a “sell” rating for the company in a report on Thursday, February 20th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a report on Wednesday, March 5th. Royal Bank of Canada cut their price target on ChargePoint from $2.50 to $2.00 and set a “sector perform” rating on the stock in a report on Thursday, December 5th. Stifel Nicolaus decreased their price objective on ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th. Finally, UBS Group set a $1.50 price target on ChargePoint in a research report on Wednesday, March 5th.

Institutional Investors Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank bought a new stake in shares of ChargePoint in the 4th quarter worth $8,746,000. Millennium Management LLC raised its stake in ChargePoint by 13,605.0% in the 4th quarter. Millennium Management LLC now owns 2,857,349 shares of the company’s stock valued at $3,057,000 after acquiring an additional 2,836,500 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of ChargePoint during the 3rd quarter valued at approximately $2,570,000. Invesco Ltd. lifted its position in shares of ChargePoint by 13.1% during the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company’s stock worth $5,382,000 after acquiring an additional 583,761 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in ChargePoint by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after purchasing an additional 399,070 shares during the period. 37.77% of the stock is owned by institutional investors.

ChargePoint Trading Up 0.3 %

CHPT stock opened at $0.61 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. ChargePoint has a twelve month low of $0.56 and a twelve month high of $2.44. The company has a market cap of $268.50 million, a P/E ratio of -0.82 and a beta of 1.85. The business has a fifty day moving average of $0.76 and a 200-day moving average of $1.07.

ChargePoint (NYSE:CHPT) last released its earnings results on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $101.89 million for the quarter, compared to analyst estimates of $100.99 million. As a group, equities research analysts expect that ChargePoint will post -0.57 EPS for the current year.

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.