ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $2.47 Consensus Target Price from Brokerages

ChargePoint Holdings, Inc. (NYSE:CHPT) has been assigned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $2.47.

Several research firms have weighed in on CHPT. Capital One Financial raised ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. UBS Group reduced their price target on ChargePoint from $1.80 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group dropped their target price on shares of ChargePoint from $1.50 to $1.25 and set a “sell” rating on the stock in a report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $3.00 price target on shares of ChargePoint in a research note on Wednesday, November 20th. Finally, Wolfe Research initiated coverage on shares of ChargePoint in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock.

Insider Activity

In other news, CEO Richard Wilmer sold 27,252 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $1.35, for a total value of $36,790.20. Following the transaction, the chief executive officer now directly owns 2,304,489 shares in the company, valued at $3,111,060.15. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mansi Khetani sold 23,409 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $1.35, for a total value of $31,602.15. Following the sale, the chief financial officer now owns 849,084 shares of the company’s stock, valued at approximately $1,146,263.40. This trade represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,803 shares of company stock valued at $135,295 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CHPT. Franklin Resources Inc. bought a new position in shares of ChargePoint in the 3rd quarter worth approximately $117,000. Geode Capital Management LLC increased its stake in shares of ChargePoint by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock worth $12,432,000 after purchasing an additional 399,070 shares in the last quarter. XTX Topco Ltd raised its holdings in ChargePoint by 1,141.0% in the 3rd quarter. XTX Topco Ltd now owns 308,786 shares of the company’s stock worth $423,000 after purchasing an additional 283,904 shares during the period. State Street Corp grew its holdings in ChargePoint by 1.4% during the third quarter. State Street Corp now owns 10,297,421 shares of the company’s stock valued at $14,107,000 after purchasing an additional 142,767 shares during the period. Finally, Stifel Financial Corp increased its position in ChargePoint by 15.5% in the third quarter. Stifel Financial Corp now owns 2,055,211 shares of the company’s stock worth $2,816,000 after buying an additional 275,653 shares in the last quarter. 37.77% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Price Performance

Shares of CHPT stock opened at $1.21 on Friday. The business’s 50 day moving average price is $1.27 and its 200-day moving average price is $1.58. ChargePoint has a fifty-two week low of $1.05 and a fifty-two week high of $3.13. The firm has a market cap of $522.21 million, a P/E ratio of -1.22 and a beta of 1.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.32 and a current ratio of 2.03.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The business had revenue of $108.54 million during the quarter, compared to analyst estimates of $114.15 million. ChargePoint had a negative net margin of 89.12% and a negative return on equity of 112.67%. On average, equities research analysts anticipate that ChargePoint will post -0.56 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.