ChargePoint Holdings, Inc. (NYSE:CHPT) Receives Consensus Rating of “Hold” from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has received a consensus rating of “Hold” from the twelve research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $1.52.

A number of equities research analysts have recently issued reports on CHPT shares. Evercore ISI lowered ChargePoint from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $4.00 to $1.00 in a research note on Monday, March 31st. Stifel Nicolaus reduced their target price on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research report on Monday, March 10th. The Goldman Sachs Group lowered their price target on shares of ChargePoint from $0.75 to $0.50 and set a “sell” rating for the company in a report on Thursday, April 10th. UBS Group decreased their price objective on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Wednesday, March 5th.

ChargePoint Price Performance

ChargePoint stock opened at $0.58 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $264.98 million, a PE ratio of -0.78 and a beta of 2.05. The firm’s 50-day simple moving average is $0.66 and its 200 day simple moving average is $0.98. ChargePoint has a 52 week low of $0.51 and a 52 week high of $2.44.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $101.89 million during the quarter, compared to analysts’ expectations of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, equities research analysts predict that ChargePoint will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in ChargePoint by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after purchasing an additional 9,519 shares during the last quarter. Jeppson Wealth Management LLC boosted its position in ChargePoint by 32.8% during the 4th quarter. Jeppson Wealth Management LLC now owns 57,025 shares of the company’s stock worth $61,000 after acquiring an additional 14,085 shares during the period. Jones Financial Companies Lllp grew its stake in shares of ChargePoint by 61.1% in the fourth quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after purchasing an additional 17,075 shares in the last quarter. Swiss National Bank increased its holdings in shares of ChargePoint by 2.2% during the fourth quarter. Swiss National Bank now owns 806,400 shares of the company’s stock valued at $863,000 after purchasing an additional 17,600 shares during the period. Finally, MetLife Investment Management LLC raised its stake in shares of ChargePoint by 9.8% during the fourth quarter. MetLife Investment Management LLC now owns 251,168 shares of the company’s stock valued at $269,000 after purchasing an additional 22,369 shares in the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Company Profile

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.