ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $2.47 Average Target Price from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average recommendation of “Hold” from the seventeen research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $2.47.

CHPT has been the topic of several recent analyst reports. TD Cowen downgraded ChargePoint from a “buy” rating to a “hold” rating and decreased their target price for the company from $3.00 to $2.00 in a research note on Thursday, September 5th. The Goldman Sachs Group reduced their price objective on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a research report on Friday, September 6th. UBS Group lowered their target price on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Benchmark reaffirmed a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 3rd.

Insiders Place Their Bets

In related news, CAO Henrik Gerdes sold 26,288 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $1.32, for a total value of $34,700.16. Following the sale, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at $515,586.72. This represents a 6.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $1.35, for a total transaction of $31,602.15. Following the completion of the sale, the chief financial officer now directly owns 849,084 shares in the company, valued at $1,146,263.40. This trade represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,803 shares of company stock valued at $135,295 over the last ninety days. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in ChargePoint in the 2nd quarter worth about $13,007,000. Vanguard Group Inc. increased its position in shares of ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock worth $69,708,000 after acquiring an additional 7,645,210 shares during the period. Erste Asset Management GmbH bought a new stake in shares of ChargePoint during the third quarter valued at approximately $2,570,000. AQR Capital Management LLC bought a new stake in shares of ChargePoint during the second quarter valued at approximately $1,310,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of ChargePoint by 62.0% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 1,623,836 shares of the company’s stock valued at $2,452,000 after purchasing an additional 621,536 shares during the period. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Stock Performance

Shares of NYSE CHPT opened at $1.26 on Friday. The stock has a market cap of $541.63 million, a PE ratio of -1.27 and a beta of 1.70. ChargePoint has a 1 year low of $1.05 and a 1 year high of $3.13. The firm has a fifty day moving average price of $1.29 and a 200-day moving average price of $1.59. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.03 and a quick ratio of 1.32.

ChargePoint (NYSE:CHPT) last issued 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 analyst estimates of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. Equities analysts anticipate that ChargePoint will post -0.56 earnings per share for the current fiscal 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.