ChargePoint Holdings, Inc. (NYSE:CHPT) Given Consensus Rating of “Buy” by Brokerages

Shares of ChargePoint Holdings, Inc. (NYSE:CHPTGet Rating) have been given a consensus recommendation of “Buy” by the fifteen analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.21.

A number of research firms have weighed in on CHPT. Jefferies Financial Group cut their price target on ChargePoint from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, March 3rd. Tudor Pickering started coverage on shares of ChargePoint in a research report on Thursday, April 21st. They issued a “buy” rating and a $22.00 price objective for the company. Tudor, Pickering, Holt & Co. started coverage on shares of ChargePoint in a research report on Thursday, April 21st. They issued a “buy” rating and a $22.00 price objective for the company. Citigroup raised their price objective on shares of ChargePoint from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 3rd. Finally, DA Davidson reduced their price objective on shares of ChargePoint from $30.00 to $25.00 in a research report on Monday, March 7th.

In other ChargePoint news, CEO Pasquale Romano sold 250,000 shares of ChargePoint stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,766,428 shares of the company’s stock, valued at approximately $40,445,177.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Colleen Jansen sold 2,473 shares of the business’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $17.92, for a total transaction of $44,316.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,981,130 shares of company stock valued at $30,641,403 over the last 90 days. Insiders own 39.50% of the company’s stock.

Several institutional investors have recently modified their holdings of CHPT. Linse Capital LLC acquired a new stake in shares of ChargePoint in the 4th quarter valued at about $973,490,000. BlackRock Inc. grew its position in ChargePoint by 65.1% in the 4th quarter. BlackRock Inc. now owns 7,988,543 shares of the company’s stock worth $152,183,000 after purchasing an additional 3,150,557 shares during the last quarter. Norges Bank bought a new position in ChargePoint in the 4th quarter worth about $32,814,000. Millennium Management LLC boosted its holdings in shares of ChargePoint by 5,113.8% in the third quarter. Millennium Management LLC now owns 1,258,305 shares of the company’s stock valued at $25,154,000 after acquiring an additional 1,234,171 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of ChargePoint by 51.1% in the fourth quarter. State Street Corp now owns 3,049,494 shares of the company’s stock valued at $58,093,000 after acquiring an additional 1,030,825 shares in the last quarter. Institutional investors and hedge funds own 51.11% of the company’s stock.

CHPT stock opened at $9.62 on Friday. The firm has a market capitalization of $3.23 billion, a PE ratio of -6.13 and a beta of 2.17. ChargePoint has a 1 year low of $8.50 and a 1 year high of $36.86. The business has a 50 day simple moving average of $16.05 and a 200-day simple moving average of $17.95.

ChargePoint (NYSE:CHPTGet Rating) last released its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.07). The firm had revenue of $80.68 million for the quarter, compared to analyst estimates of $75.85 million. ChargePoint had a positive return on equity of 5.72% and a negative net margin of 54.71%. Equities research analysts forecast that ChargePoint will post -0.89 earnings per share for the current fiscal year.

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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