Brokerages Anticipate ChargePoint Holdings, Inc. (NYSE:CHPT) Will Post Earnings of -$0.17 Per Share

Wall Street brokerages expect that ChargePoint Holdings, Inc. (NYSE:CHPT – Get Rating) will post ($0.17) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for ChargePoint’s earnings, with the lowest EPS estimate coming in at ($0.21) and the highest estimate coming in at ($0.13). ChargePoint posted earnings of ($0.18) per share in the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that ChargePoint will report full year earnings of ($0.70) per share for the current fiscal year, with EPS estimates ranging from ($0.76) to ($0.58). For the next financial year, analysts forecast that the business will report earnings of ($0.52) per share, with EPS estimates ranging from ($0.65) to ($0.38). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover ChargePoint.

ChargePoint (NYSE:CHPT – Get Rating) last issued its earnings results on Wednesday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.07). ChargePoint had a positive return on equity of 5.72% and a negative net margin of 54.71%. The business had revenue of $80.68 million for the quarter, compared to the consensus estimate of $75.85 million.

CHPT has been the subject of several research analyst reports. Piper Sandler reduced their target price on ChargePoint from $23.00 to $20.00 in a research note on Friday, January 7th. Tudor Pickering started coverage on ChargePoint in a research note on Thursday, April 21st. They issued a “buy” rating and a $22.00 price target for the company. Jefferies Financial Group reduced 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. Needham & Company LLC reduced their price target on ChargePoint from $35.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, February 22nd. Finally, Citigroup boosted 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 analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $24.21.

Shares of NYSE CHPT traded down $0.54 during midday trading on Friday, hitting $12.94. 7,691,996 shares of the company’s stock were exchanged, compared to its average volume of 7,769,144. ChargePoint has a 12 month low of $11.21 and a 12 month high of $36.86. The company’s 50 day moving average price is $16.34 and its 200 day moving average price is $18.40. The firm has a market capitalization of $4.35 billion, a PE ratio of -8.24 and a beta of 1.94.

In other ChargePoint news, CFO Rex S. Jackson sold 8,100 shares of ChargePoint stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $17.92, for a total value of $145,152.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Pasquale Romano sold 250,000 shares of ChargePoint stock in a transaction dated Friday, April 22nd. The shares were sold at an average price of $14.62, for a total value of $3,655,000.00. Following the completion of the transaction, the chief executive officer now owns 2,766,428 shares in the company, valued at approximately $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 valued at $30,641,403 over the last ninety days. Insiders own 39.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in CHPT. Linse Capital LLC acquired a new stake in shares of ChargePoint during the fourth quarter valued at about $973,490,000. BlackRock Inc. boosted its stake in shares of ChargePoint by 65.1% during the fourth quarter. BlackRock Inc. now owns 7,988,543 shares of the company’s stock valued at $152,183,000 after purchasing an additional 3,150,557 shares in the last quarter. State Street Corp boosted its stake in shares of ChargePoint by 51.1% during the fourth quarter. State Street Corp now owns 3,049,494 shares of the company’s stock valued at $58,093,000 after purchasing an additional 1,030,825 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of ChargePoint by 21.2% during the fourth quarter. First Trust Advisors LP now owns 2,948,607 shares of the company’s stock valued at $56,171,000 after purchasing an additional 516,124 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of ChargePoint by 28.0% during the fourth quarter. Geode Capital Management LLC now owns 2,230,224 shares of the company’s stock valued at $42,485,000 after purchasing an additional 488,123 shares in the last quarter. Hedge funds and other institutional investors 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 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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