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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been given an average rating of “Hold” by the eleven analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $1.39.

A number of equities research analysts have recently commented on CHPT shares. Evercore ISI downgraded shares of ChargePoint from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $4.00 to $1.00 in a report on Monday, March 31st. UBS Group lowered their target price on shares of ChargePoint from $0.70 to $0.65 and set a “neutral” rating for the company in a report on Thursday, April 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $1.00 target price on shares of ChargePoint in a report on Thursday, June 5th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a report on Thursday, June 5th. Finally, Stifel Nicolaus lowered their target price on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, March 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its position in shares of ChargePoint by 61.1% during 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. MetLife Investment Management LLC lifted its position 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 worth $269,000 after purchasing an additional 22,369 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ChargePoint during the fourth quarter worth $354,000. Invesco Ltd. lifted its position in shares of ChargePoint by 13.1% during the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company’s stock worth $5,382,000 after purchasing an additional 583,761 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of ChargePoint during the fourth quarter worth $268,000. 37.77% of the stock is owned by institutional investors and hedge funds.

ChargePoint Stock Performance

Shares of NYSE CHPT opened at $0.72 on Friday. The company has a market cap of $328.07 million, a PE ratio of -1.19 and a beta of 2.23. ChargePoint has a 12 month low of $0.51 and a 12 month high of $2.44. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.82 and a quick ratio of 1.12. The company has a 50-day simple moving average of $0.70 and a 200-day simple moving average of $0.78.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings results on Wednesday, June 4th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $97.64 million for the quarter, compared to analysts’ expectations of $100.43 million. ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, equities analysts anticipate that ChargePoint will post -0.57 earnings per share for the current year.

About ChargePoint

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.