ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $12.65 Consensus Price Target from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given an average recommendation of “Reduce” by the twelve analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $12.65.

CHPT has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a report on Thursday, September 4th. Benchmark cut their price target on ChargePoint from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of ChargePoint in a research note on Wednesday, October 8th. TD Cowen dropped their price objective on ChargePoint from $30.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, September 4th. Finally, JPMorgan Chase & Co. reduced their target price on ChargePoint from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, September 4th.

ChargePoint Stock Performance

NYSE:CHPT opened at $6.74 on Friday. The stock has a 50 day simple moving average of $8.78 and a 200 day simple moving average of $10.81. The stock has a market cap of $159.38 million, a P/E ratio of -0.66 and a beta of 1.43. ChargePoint has a 1-year low of $6.66 and a 1-year high of $26.00. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 8.38.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings data on Thursday, December 4th. The company reported ($2.23) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.88). The firm had revenue of $105.67 million for the quarter, compared to the consensus estimate 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 previous year, the business earned ($1.94) EPS. Research analysts anticipate that ChargePoint will post -0.57 earnings per share for the current year.

Insider Transactions at ChargePoint

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

Hedge Funds Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of CHPT. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of ChargePoint during the 3rd quarter worth $60,000. Sullivan Wood Capital Management LLC bought a new position in shares of ChargePoint in the third quarter worth about $355,000. International Assets Investment Management LLC acquired a new stake in shares of ChargePoint in the 2nd quarter valued at approximately $27,000. Trueblood Wealth Management LLC boosted its stake in shares of ChargePoint by 100.0% in the 2nd quarter. Trueblood Wealth Management LLC now owns 40,000 shares of the company’s stock valued at $28,000 after purchasing an additional 20,000 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of ChargePoint by 26.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock valued at $475,000 after purchasing an additional 9,208 shares during the last quarter. Institutional investors own 37.77% of the company’s stock.

ChargePoint Company Profile

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.