ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $2.65 Average Price Target from Analysts

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned an average recommendation of “Hold” from the twenty analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $2.61.

Several equities research analysts have issued reports on the company. The Goldman Sachs Group cut their target price on ChargePoint from $1.50 to $1.25 and set a “sell” rating for the company in a research note on Friday, September 6th. UBS Group cut their target price on ChargePoint from $1.80 to $1.50 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research note on Tuesday, September 17th. TD Cowen lowered ChargePoint from a “buy” rating to a “hold” rating and lowered their price target for the stock from $3.00 to $2.00 in a research report on Thursday, September 5th. Finally, Stifel Nicolaus lowered their price target on ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Wednesday.

Insider Activity at ChargePoint

In related news, CFO Mansi Khetani sold 23,409 shares of ChargePoint stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the transaction, the chief financial officer now directly owns 849,084 shares in the company, valued at approximately $1,146,263.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other ChargePoint news, CAO Henrik Gerdes sold 26,288 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $1.32, for a total value of $34,700.16. Following the sale, the chief accounting officer now directly owns 390,596 shares in the company, valued at $515,586.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mansi Khetani sold 23,409 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the completion of the sale, the chief financial officer now owns 849,084 shares in the company, valued at approximately $1,146,263.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,803 shares of company stock worth $135,295. Company insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Direct Indexing L.P. acquired a new stake in shares of ChargePoint during the first quarter worth about $92,000. Capstone Investment Advisors LLC acquired a new stake in shares of ChargePoint during the first quarter worth about $238,000. PDS Planning Inc acquired a new stake in shares of ChargePoint during the first quarter worth about $31,000. SG Americas Securities LLC increased its position in shares of ChargePoint by 51.6% during the first quarter. SG Americas Securities LLC now owns 109,240 shares of the company’s stock worth $208,000 after purchasing an additional 37,180 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of ChargePoint by 23.2% during the first quarter. Swiss National Bank now owns 742,900 shares of the company’s stock worth $1,412,000 after purchasing an additional 139,700 shares in the last quarter. 37.77% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Price Performance

NYSE:CHPT opened at $1.24 on Tuesday. ChargePoint has a one year low of $1.20 and a one year high of $3.54. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03. The stock has a market cap of $535.16 million, a PE ratio of -1.25 and a beta of 1.70. The stock has a 50 day moving average price of $1.41 and a 200 day moving average price of $1.62.

ChargePoint (NYSE:CHPT) last posted its earnings results on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $108.54 million during the quarter, compared to analysts’ expectations of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. Equities research analysts expect that ChargePoint will post -0.56 EPS for the current fiscal year.

About ChargePoint

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.