ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $12.15 Consensus Target Price from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has received an average rating of “Reduce” from the twelve research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $12.15.

Several equities analysts have recently commented on CHPT shares. Royal Bank Of Canada restated a “sector perform” rating and set a $9.00 price target (down from $10.00) on shares of ChargePoint in a report on Friday, December 5th. Roth Mkm set a $8.50 price objective on ChargePoint and gave the company a “neutral” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $5.00 price target on shares of ChargePoint in a research note on Thursday, January 15th. Finally, UBS Group reiterated a “neutral” rating and set a $9.00 price target (down from $12.00) on shares of ChargePoint in a report on Monday, December 22nd.

Insider Buying and Selling

In other news, CFO Mansi Khetani sold 3,943 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $27,561.57. Following the transaction, the chief financial officer owned 130,363 shares in the company, valued at approximately $911,237.37. This trade represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jagdeep Ca Singh sold 4,832 shares of ChargePoint stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $6.99, for a total transaction of $33,775.68. Following the completion of the sale, the insider directly owned 124,627 shares of the company’s stock, valued at approximately $871,142.73. The trade was a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,670 shares of company stock valued at $88,534 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On ChargePoint

Several institutional investors have recently bought and sold shares of CHPT. AQR Capital Management LLC lifted its position in shares of ChargePoint by 6,429.1% in the first quarter. AQR Capital Management LLC now owns 2,679,217 shares of the company’s stock worth $1,553,000 after buying an additional 2,638,182 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of ChargePoint by 61.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,790,823 shares of the company’s stock valued at $2,293,000 after acquiring an additional 1,448,114 shares during the last quarter. Soviero Asset Management LP bought a new position in shares of ChargePoint in the 2nd quarter valued at approximately $633,000. Brevan Howard Capital Management LP acquired a new stake in ChargePoint in the 2nd quarter worth approximately $517,000. Finally, Qube Research & Technologies Ltd bought a new stake in ChargePoint during the second quarter worth approximately $518,000. 37.77% of the stock is currently owned by institutional investors.

ChargePoint Price Performance

Shares of CHPT opened at $6.64 on Thursday. The business’s 50-day moving average is $7.60 and its 200-day moving average is $9.92. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.59 and a quick ratio of 0.93. The company has a market capitalization of $157.10 million, a price-to-earnings ratio of -0.65 and a beta of 1.40. ChargePoint has a fifty-two week low of $6.39 and a fifty-two week high of $21.00.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Thursday, December 4th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.88). The company had revenue of $105.67 million for the quarter, compared to analyst estimates of $96.51 million. ChargePoint had a negative return on equity of 209.46% and a negative net margin of 59.54%.During the same quarter in the prior year, the business posted ($1.94) earnings per share. Equities research analysts expect that ChargePoint will post -0.57 EPS for the current fiscal year.

About ChargePoint

ChargePoint (NYSE: CHPT) is a leading provider of electric vehicle (EV) charging solutions that designs, develops and markets charging hardware, software and services. The company’s portfolio includes Level 2 AC charging stations for residential, commercial and fleet applications, as well as DC fast charging systems suited for retail, hospitality and public use. ChargePoint’s integrated platform enables site hosts to manage charging infrastructure through cloud-based monitoring, analytics and billing tools, while EV drivers access and control charging sessions via a mobile app or RFID card.

Since its founding in 2007 and headquarters in Campbell, California, ChargePoint has built one of the largest open EV charging networks in the world.