ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of ChargePoint Holdings, Inc. (NYSE:CHPTGet Free Report) have received an average rating of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $5.46.

Several analysts have recently weighed in on CHPT shares. Benchmark reissued a “buy” rating and issued a $4.25 target price on shares of ChargePoint in a report on Wednesday, March 6th. R. F. Lafferty reduced their price objective on ChargePoint from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th. The Goldman Sachs Group restated a “sell” rating and set a $1.50 target price (down from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $3.00 price objective (down from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th.

Check Out Our Latest Report on ChargePoint

ChargePoint Stock Performance

Shares of NYSE CHPT opened at $1.72 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.25 and a quick ratio of 1.65. ChargePoint has a fifty-two week low of $1.21 and a fifty-two week high of $10.10. The stock’s 50-day simple moving average is $1.67 and its 200-day simple moving average is $2.04.

ChargePoint (NYSE:CHPTGet Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. ChargePoint had a negative net margin of 90.32% and a negative return on equity of 125.19%. The firm had revenue of $115.83 million for the quarter, compared to the consensus estimate of $126.48 million. Equities research analysts forecast that ChargePoint will post -0.63 EPS for the current year.

Insider Transactions at ChargePoint

In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the sale, the chief executive officer now owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1.87, for a total value of $47,453.12. Following the completion of the transaction, the chief executive officer now directly owns 2,359,462 shares of the company’s stock, valued at $4,412,193.94. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Linse sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $1.94, for a total value of $194,000.00. Following the sale, the director now directly owns 1,209,867 shares in the company, valued at approximately $2,347,141.98. The disclosure for this sale can be found here. In the last three months, insiders sold 154,846 shares of company stock valued at $296,562. Corporate insiders own 12.90% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

Several institutional investors and hedge funds have recently made changes to their positions in CHPT. Balentine LLC purchased a new position in ChargePoint during the 4th quarter valued at about $26,000. RWA Wealth Partners LLC purchased a new position in shares of ChargePoint during the fourth quarter valued at approximately $31,000. PDS Planning Inc acquired a new stake in shares of ChargePoint during the first quarter worth $31,000. Ingalls & Snyder LLC purchased a new stake in shares of ChargePoint in the fourth quarter valued at $33,000. Finally, Sigma Planning Corp purchased a new stake in ChargePoint in the fourth quarter valued at approximately $33,000. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

ChargePoint Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for ChargePoint (NYSE:CHPT)

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