$75.10 Million in Sales Expected for ChargePoint Holdings, Inc. (NYSE:CHPT) This Quarter

Analysts forecast that ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) will announce sales of $75.10 million for the current quarter, Zacks reports. Eight analysts have provided estimates for ChargePoint’s earnings. The highest sales estimate is $78.10 million and the lowest is $70.00 million. ChargePoint reported sales of $40.51 million during the same quarter last year, which would suggest a positive year over year growth rate of 85.4%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that ChargePoint will report full year sales of $474.84 million for the current fiscal year, with estimates ranging from $450.00 million to $499.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $727.81 million, with estimates ranging from $600.00 million to $800.22 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover ChargePoint.

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

Several equities analysts recently weighed in on the stock. Tudor Pickering assumed coverage on shares of ChargePoint in a research note on Thursday, April 21st. They issued a “buy” rating and a $22.00 target price for the company. 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. Cowen raised their price target on ChargePoint from $24.00 to $27.00 in a report on Thursday, March 3rd. Needham & Company LLC dropped their target price on ChargePoint from $35.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, February 22nd. Finally, Jefferies Financial Group dropped their target price on ChargePoint from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, March 3rd. One investment 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. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $24.21.

Shares of CHPT stock opened at $12.94 on Monday. The company has a market capitalization of $4.35 billion, a P/E ratio of -8.24 and a beta of 1.94. The company’s 50 day moving average price is $16.34 and its two-hundred day moving average price is $18.39. ChargePoint has a 52 week low of $11.21 and a 52 week high of $36.86.

In other ChargePoint news, CEO Pasquale Romano sold 250,000 shares of the company’s 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 sale, the chief executive officer now owns 2,766,428 shares in the company, valued at $40,445,177.36. The sale was disclosed in a filing with the SEC, which is available through 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 transaction of $145,152.00. The disclosure for this sale can be found here. Insiders sold 1,981,130 shares of company stock valued at $30,641,403 over the last three months. 39.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wagner Wealth Management LLC grew its stake in ChargePoint by 236.7% during the fourth quarter. Wagner Wealth Management LLC now owns 1,549 shares of the company’s stock valued at $30,000 after acquiring an additional 1,089 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of ChargePoint by 491.6% in the 4th quarter. AdvisorNet Financial Inc now owns 1,893 shares of the company’s stock worth $36,000 after acquiring an additional 1,573 shares during the last quarter. First Manhattan Co. bought a new stake in shares of ChargePoint in the 3rd quarter worth about $37,000. Cranbrook Wealth Management LLC bought a new stake in shares of ChargePoint in the 3rd quarter worth about $40,000. Finally, Future Financial Wealth Managment LLC bought a new stake in ChargePoint during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 27.69% of the company’s stock.

ChargePoint Company Profile (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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Earnings History and Estimates for ChargePoint (NYSE:CHPT)

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