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

ChargePoint Holdings, Inc. (NYSE:CHPT) has earned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $1.66.

A number of analysts recently commented on the company. UBS Group set a $1.50 price target on ChargePoint in a research note on Wednesday, March 5th. The Goldman Sachs Group reduced their price target on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a research note on Thursday, February 20th. Evercore ISI downgraded shares of ChargePoint from an “outperform” rating to an “in-line” rating and reduced their target price for the stock from $4.00 to $1.00 in a research report on Monday. Stifel Nicolaus cut their price objective on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Finally, Royal Bank of Canada lowered their target price on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in shares of ChargePoint by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 177,375 shares of the company’s stock valued at $243,000 after buying an additional 9,519 shares during the last quarter. Jeppson Wealth Management LLC grew its stake in shares of ChargePoint by 32.8% in the fourth 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 raised its holdings 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 valued at $48,000 after purchasing an additional 17,075 shares during the last quarter. Swiss National Bank lifted its position in 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, Point72 Asia Singapore Pte. Ltd. boosted its holdings in ChargePoint by 131.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 36,628 shares of the company’s stock worth $50,000 after purchasing an additional 20,773 shares during the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Stock Performance

Shares of CHPT stock opened at $0.61 on Friday. The company has a market capitalization of $268.50 million, a P/E ratio of -0.82 and a beta of 1.85. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.24 and a current ratio of 1.94. The stock has a 50 day moving average price of $0.76 and a two-hundred day moving average price of $1.07. ChargePoint has a fifty-two week low of $0.56 and a fifty-two week high of $2.44.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. The business had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. Analysts expect that ChargePoint will post -0.57 earnings per share for the current year.

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.