ChargePoint Holdings, Inc. Expected to Post Q2 2023 Earnings of ($0.25) Per Share (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) – Stock analysts at Piper Sandler dropped their Q2 2023 EPS estimates for shares of ChargePoint in a research note issued on Monday, April 11th. Piper Sandler analyst K. Harrison now forecasts that the company will post earnings per share of ($0.25) for the quarter, down from their prior estimate of ($0.24). Piper Sandler also issued estimates for ChargePoint’s Q3 2023 earnings at ($0.24) EPS, FY2023 earnings at ($0.96) EPS, Q1 2024 earnings at ($0.26) EPS, Q3 2024 earnings at ($0.20) EPS and Q4 2024 earnings at ($0.18) EPS.

ChargePoint (NYSE:CHPTGet Rating) last announced its earnings results on Wednesday, March 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. ChargePoint had a negative net margin of 54.71% and a positive return on equity of 5.72%.

Other equities research analysts also recently issued research reports about the stock. Cowen boosted their target price on shares of ChargePoint from $24.00 to $27.00 in a research note on Thursday, March 3rd. The Goldman Sachs Group cut their price target on ChargePoint from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, January 10th. Jefferies Financial Group lowered their price target on ChargePoint from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, March 3rd. JPMorgan Chase & Co. raised ChargePoint from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $26.00 to $20.00 in a research note on Friday, January 28th. Finally, Citigroup upped their price target on ChargePoint from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $24.92.

CHPT opened at $15.25 on Thursday. ChargePoint has a fifty-two week low of $11.21 and a fifty-two week high of $36.86. The firm’s fifty day moving average price is $16.21 and its two-hundred day moving average price is $18.76. The company has a market capitalization of $5.12 billion, a P/E ratio of -9.71 and a beta of 1.94.

In other ChargePoint news, CMO Colleen Jansen sold 2,473 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $17.92, for a total transaction of $44,316.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rex S. Jackson sold 8,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $17.92, for a total value of $145,152.00. The disclosure for this sale can be found here. Insiders sold a total of 73,163 shares of company stock valued at $1,295,789 over the last quarter. 39.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP acquired a new stake in shares of ChargePoint during the 3rd quarter worth about $27,000. Wagner Wealth Management LLC increased its holdings in ChargePoint by 236.7% in the 4th quarter. Wagner Wealth Management LLC now owns 1,549 shares of the company’s stock valued at $30,000 after buying an additional 1,089 shares during the period. Nvwm LLC increased its holdings in ChargePoint by 2,121.7% in the 3rd quarter. Nvwm LLC now owns 1,533 shares of the company’s stock valued at $31,000 after buying an additional 1,464 shares during the period. AdvisorNet Financial Inc increased its holdings in ChargePoint by 491.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,893 shares of the company’s stock valued at $36,000 after buying an additional 1,573 shares during the period. Finally, First Manhattan Co. bought a new position in ChargePoint in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 27.69% of the company’s stock.

About ChargePoint (Get Rating)

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. 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.

Featured Stories

Earnings History and Estimates for ChargePoint (NYSE:CHPT)

Receive News & Ratings for ChargePoint Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChargePoint and related companies with MarketBeat.com's FREE daily email newsletter.