Zacks: Analysts Anticipate ChargePoint Holdings, Inc. (NYSE:CHPT) to Post -$0.13 EPS

Brokerages expect that ChargePoint Holdings, Inc. (NYSE:CHPT) will announce ($0.13) earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for ChargePoint’s earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.15). The company is expected to report its next earnings report after the market closes on Tuesday, December 7th.

On average, analysts expect that ChargePoint will report full year earnings of ($0.56) per share for the current fiscal year, with EPS estimates ranging from ($0.59) to ($0.53). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.46) per share, with EPS estimates ranging from ($0.56) to ($0.39). Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for ChargePoint.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Tuesday, August 31st. The company reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The business had revenue of $56.12 million for the quarter, compared to analysts’ expectations of $49.06 million. During the same period in the previous year, the company earned ($6.97) EPS. ChargePoint’s revenue for the quarter was up 60.5% compared to the same quarter last year.

CHPT has been the subject of a number of recent research reports. Stifel Nicolaus initiated coverage on ChargePoint in a research note on Monday, October 18th. They set a “buy” rating and a $29.00 price objective for the company. Bank of America assumed coverage on ChargePoint in a research note on Wednesday, September 8th. They issued a “neutral” rating and a $26.00 price target for the company. Needham & Company LLC dropped their price target on ChargePoint from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 2nd. Jefferies Financial Group dropped their price target on ChargePoint from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 2nd. Finally, JPMorgan Chase & Co. assumed coverage on ChargePoint in a research note on Monday, November 15th. They issued a “neutral” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $31.06.

Shares of NYSE:CHPT traded up $0.32 during mid-day trading on Thursday, reaching $26.17. 6,926,387 shares of the company traded hands, compared to its average volume of 6,915,444. The company’s 50 day moving average price is $22.51 and its 200-day moving average price is $24.44. ChargePoint has a 52 week low of $17.60 and a 52 week high of $49.48.

In other ChargePoint news, CMO Colleen Jansen sold 3,115 shares of the business’s stock in a transaction dated Wednesday, September 22nd. The shares were sold at an average price of $20.15, for a total value of $62,767.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rex S. Jackson sold 10,901 shares of the company’s stock in a transaction that occurred on Wednesday, September 22nd. The stock was sold at an average price of $20.15, for a total transaction of $219,655.15. The disclosure for this sale can be found here. Insiders have sold a total of 227,729 shares of company stock worth $4,719,738 in the last 90 days. 39.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in CHPT. Hanlon Investment Management Inc. bought a new position in shares of ChargePoint during the 3rd quarter worth approximately $214,000. Bank of New York Mellon Corp raised its stake in shares of ChargePoint by 5.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 381,928 shares of the company’s stock worth $7,634,000 after acquiring an additional 18,617 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of ChargePoint during the 3rd quarter worth approximately $4,054,000. Utah Retirement Systems raised its stake in shares of ChargePoint by 192.3% during the 3rd quarter. Utah Retirement Systems now owns 19,000 shares of the company’s stock worth $380,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of ChargePoint during the 3rd quarter worth approximately $2,432,000. 40.88% of the stock is owned by hedge funds and other institutional investors.

ChargePoint Company Profile

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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