ChargePoint (NYSE:CHPT – Get Rating) announced its quarterly earnings results on Tuesday. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01, MarketWatch Earnings reports. ChargePoint had a negative net margin of 54.71% and a positive return on equity of 5.72%. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. ChargePoint updated its FY 2023 guidance to EPS and its Q2 2023 guidance to EPS.
Shares of ChargePoint stock opened at $12.79 on Wednesday. The firm’s fifty day simple moving average is $14.46 and its 200-day simple moving average is $16.57. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -8.15 and a beta of 2.17. ChargePoint has a 12 month low of $8.50 and a 12 month high of $36.86.
In other news, Director Michael Linse sold 81,173 shares of ChargePoint stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $16.18, for a total transaction of $1,313,379.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Pasquale Romano sold 250,000 shares of ChargePoint stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of $14.62, for a total transaction of $3,655,000.00. Following the sale, the chief executive officer now owns 2,766,428 shares of the company’s stock, valued at $40,445,177.36. The disclosure for this sale can be found here. Insiders sold a total of 1,981,130 shares of company stock worth $30,641,403 over the last ninety days. Corporate insiders own 39.50% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Needham & Company LLC dropped their price target on shares of ChargePoint from $35.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, February 22nd. Citigroup lowered their price objective on shares of ChargePoint from $17.00 to $15.50 in a research note on Wednesday. DA Davidson lowered their price objective on shares of ChargePoint from $30.00 to $25.00 in a research note on Monday, March 7th. Jefferies Financial Group lowered their price objective on shares of ChargePoint from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, March 3rd. Finally, Tudor, Pickering, Holt & Co. initiated coverage on shares of ChargePoint in a research note on Thursday, April 21st. They issued a “buy” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $23.68.
About ChargePoint (Get Rating)
ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.
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