Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $4.96

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been assigned a consensus rating of “Hold” from the nineteen research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $4.88.

Several research firms have issued reports on CHPT. Benchmark cut their price objective on ChargePoint from $4.25 to $3.00 and set a “buy” rating for the company in a research report on Friday. R. F. Lafferty decreased their price objective on shares of ChargePoint from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. DA Davidson reaffirmed a “buy” rating and issued a $4.00 target price on shares of ChargePoint in a report on Wednesday, March 6th. B. Riley raised ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $3.00 price objective (down from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th.

Insider Buying and Selling

In other ChargePoint news, CEO Richard Wilmer sold 27,722 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the transaction, the chief executive officer now owns 2,331,740 shares of the company’s stock, valued at approximately $3,264,436. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Mansi Khetani sold 19,007 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $1.40, for a total transaction of $26,609.80. Following the completion of the transaction, the chief financial officer now owns 402,493 shares of the company’s stock, valued at approximately $563,490.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard Wilmer sold 27,722 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $1.40, for a total transaction of $38,810.80. Following the completion of the sale, the chief executive officer now directly owns 2,331,740 shares in the company, valued at $3,264,436. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,099 shares of company stock worth $137,498. 3.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ChargePoint

Several institutional investors and hedge funds have recently bought and sold shares of CHPT. Vanguard Group Inc. grew its stake in shares of ChargePoint by 26.3% during the 1st quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after buying an additional 7,645,210 shares during the period. Norges Bank purchased a new stake in ChargePoint during the fourth quarter valued at about $9,733,000. Wellington Management Group LLP raised its holdings in shares of ChargePoint by 418.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock worth $12,536,000 after purchasing an additional 2,035,496 shares during the period. Invesco Ltd. grew its holdings in shares of ChargePoint by 19.2% during the 3rd quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock worth $10,899,000 after purchasing an additional 353,988 shares during the period. Finally, Cadian Capital Management LP purchased a new stake in shares of ChargePoint during the 3rd quarter worth about $4,970,000. Institutional investors and hedge funds own 37.77% of the company’s stock.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $1.51 on Wednesday. ChargePoint has a fifty-two week low of $1.21 and a fifty-two week high of $9.23. The company has a quick ratio of 1.45, a current ratio of 2.13 and a debt-to-equity ratio of 1.02. The firm’s 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.86. The company has a market cap of $639.27 million, a price-to-earnings ratio of -1.28 and a beta of 1.74.

ChargePoint (NYSE:CHPT) last announced its quarterly earnings data on Wednesday, June 5th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. The company had revenue of $107.04 million for the quarter, compared to analyst estimates of $106.09 million. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. As a group, equities research analysts predict that ChargePoint will post -0.56 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.