ChargePoint (NYSE:CHPT) Price Target Lowered to $3.00 at TD Cowen

ChargePoint (NYSE:CHPTFree Report) had its target price trimmed by TD Cowen from $4.00 to $3.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on CHPT. Royal Bank of Canada restated a sector perform rating and issued a $3.00 price objective (down previously from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. The Goldman Sachs Group restated a sell rating and issued a $1.50 price objective (down previously from $2.00) on shares of ChargePoint in a research report on Tuesday, April 9th. R. F. Lafferty lowered their price objective on ChargePoint from $4.00 to $3.00 and set a hold rating on the stock in a research report on Wednesday, March 6th. Needham & Company LLC restated a buy rating and issued a $3.00 price objective on shares of ChargePoint in a research report on Thursday. Finally, DA Davidson restated a buy rating and issued a $4.00 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $4.96.

Get Our Latest Stock Analysis on ChargePoint

ChargePoint Trading Up 5.5 %

Shares of NYSE CHPT opened at $1.83 on Thursday. The business’s 50 day moving average price is $1.65 and its 200 day moving average price is $1.92. ChargePoint has a 52 week low of $1.21 and a 52 week high of $10.10. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87.

ChargePoint (NYSE:CHPTGet Free Report) last issued 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. The firm had revenue of $115.83 million for the quarter, compared to analyst estimates of $126.48 million. ChargePoint had a negative return on equity of 122.01% and a negative net margin of 93.05%. On average, equities analysts predict that ChargePoint will post -0.61 EPS for the current fiscal year.

Insider Activity at ChargePoint

In related news, CFO Mansi Khetani sold 19,035 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total value of $35,595.45. Following the completion of the transaction, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at approximately $788,205. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 directly owns 2,359,462 shares of the company’s stock, valued at approximately $4,412,193.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mansi Khetani sold 19,035 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 $35,595.45. Following the completion of the sale, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at $788,205. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,846 shares of company stock valued at $102,562. 3.50% of the stock is owned by insiders.

Institutional Trading of ChargePoint

Hedge funds and other institutional investors have recently modified their holdings of the stock. Balentine LLC acquired a new stake in shares of ChargePoint in the 4th quarter worth $26,000. CreativeOne Wealth LLC acquired a new stake in shares of ChargePoint during the 1st quarter worth about $30,000. RWA Wealth Partners LLC acquired a new stake in shares of ChargePoint during the 4th quarter worth about $31,000. PDS Planning Inc acquired a new stake in shares of ChargePoint during the 1st quarter worth about $31,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of ChargePoint during the 4th quarter worth about $33,000. 37.77% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for ChargePoint (NYSE:CHPT)

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