Recent Research Analysts’ Ratings Updates for ChargePoint (CHPT)

Several analysts have recently updated their ratings and price targets for ChargePoint (NYSE: CHPT):

  • 6/6/2022 – ChargePoint was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “ChargePoint Holdings Inc. provides electric vehicle charging network. The company’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. ChargePoint Holdings Inc., formerly known as Switchback Energy Acquisition Corporation, is based in CAMPBELL, Calif. “
  • 6/2/2022 – ChargePoint had its price target lowered by analysts at DA Davidson from $25.00 to $20.00. They now have a “buy” rating on the stock.
  • 6/1/2022 – ChargePoint had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $18.00 to $12.00. They now have a “neutral” rating on the stock.
  • 6/1/2022 – ChargePoint had its price target lowered by analysts at Piper Sandler from $20.00 to $16.00. They now have a “neutral” rating on the stock.
  • 6/1/2022 – ChargePoint had its price target lowered by analysts at Evercore ISI from $28.00 to $24.00.
  • 6/1/2022 – ChargePoint had its price target lowered by analysts at Citigroup Inc. from $17.00 to $15.50.
  • 5/26/2022 – ChargePoint had its price target lowered by analysts at JPMorgan Chase & Co. from $22.00 to $18.00.
  • 4/21/2022 – ChargePoint is now covered by analysts at Tudor, Pickering, Holt & Co.. They set a “buy” rating and a $22.00 price target on the stock.
  • 4/21/2022 – ChargePoint is now covered by analysts at Tudor Pickering. They set a “buy” rating and a $22.00 price target on the stock.

Shares of NYSE CHPT traded down $1.04 during trading on Friday, reaching $14.37. 253,738 shares of the stock were exchanged, compared to its average volume of 11,081,684. The business’s 50-day moving average price is $13.84 and its 200 day moving average price is $16.04. ChargePoint Holdings, Inc. has a twelve month low of $8.50 and a twelve month high of $36.86. The company has a quick ratio of 2.26, a current ratio of 3.35 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -14.37 and a beta of 2.17.

ChargePoint (NYSE:CHPTGet Rating) last released its earnings results on Tuesday, May 31st. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. ChargePoint had a negative net margin of 107.29% and a negative return on equity of 53.96%. During the same quarter last year, the business earned ($0.18) earnings per share. As a group, sell-side analysts expect that ChargePoint Holdings, Inc. will post -0.94 earnings per share for the current fiscal year.

In other ChargePoint news, insider Eric Sidle sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $18.01, for a total value of $540,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Colleen Jansen sold 2,473 shares of the business’s stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $17.92, for a total value of $44,316.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,956,081 shares of company stock valued at $30,214,297. Corporate insiders own 23.64% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D acquired a new position in shares of ChargePoint in the 4th quarter valued at about $2,239,000. State Board of Administration of Florida Retirement System increased its holdings in ChargePoint by 237.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 118,751 shares of the company’s stock worth $2,262,000 after buying an additional 83,549 shares during the last quarter. Van ECK Associates Corp acquired a new position in ChargePoint in the fourth quarter worth approximately $1,064,000. Cetera Investment Advisers increased its holdings in ChargePoint by 23.6% in the fourth quarter. Cetera Investment Advisers now owns 250,574 shares of the company’s stock worth $4,773,000 after buying an additional 47,766 shares during the last quarter. Finally, Sigma Planning Corp bought a new stake in ChargePoint during the fourth quarter worth approximately $779,000. Hedge funds and other institutional investors own 51.11% of the company’s stock.

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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