ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $5.46 Average Price Target from Analysts

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received a consensus recommendation of “Hold” from the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.46.

A number of research analysts have issued reports on CHPT shares. Benchmark reissued a “buy” rating and set a $4.25 price objective on shares of ChargePoint in a research report on Wednesday, March 6th. DA Davidson restated a “buy” rating and issued a $4.00 price objective on shares of ChargePoint in a report on Wednesday, March 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $3.00 price objective (down from $3.50) on shares of ChargePoint in a research report on Wednesday, March 6th. Oppenheimer restated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $1.50 price target (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th.

Insiders Place Their Bets

In related news, CEO Richard Wilmer sold 25,376 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at $4,412,193.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ChargePoint news, CEO Richard Wilmer sold 25,376 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1.87, for a total transaction of $47,453.12. Following the completion of the transaction, the chief executive officer now owns 2,359,462 shares in the company, valued at approximately $4,412,193.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mansi Khetani sold 19,035 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1.87, for a total transaction of $35,595.45. Following the completion of the transaction, the chief financial officer now directly owns 421,500 shares of the company’s stock, valued at $788,205. The disclosure for this sale can be found here. Insiders sold 154,846 shares of company stock worth $296,562 in the last three months. 12.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in ChargePoint by 12.9% during the 3rd quarter. Vanguard Group Inc. now owns 29,162,249 shares of the company’s stock valued at $144,936,000 after buying an additional 3,325,694 shares during the period. Ingalls & Snyder LLC purchased a new position in shares of ChargePoint during the 4th quarter worth about $33,000. Wellington Management Group LLP grew its holdings in ChargePoint by 418.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after purchasing an additional 2,035,496 shares during the last quarter. Kestra Advisory Services LLC raised its position in ChargePoint by 160.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 111,982 shares of the company’s stock worth $557,000 after purchasing an additional 69,044 shares during the period. Finally, Oak Thistle LLC bought a new stake in ChargePoint in the fourth quarter worth about $266,000. 37.77% of the stock is owned by institutional investors.

ChargePoint Stock Performance

Shares of NYSE:CHPT opened at $1.69 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average price of $1.70 and a 200-day moving average price of $2.06. The company has a market cap of $706.47 million, a price-to-earnings ratio of -1.39 and a beta of 1.69. ChargePoint has a 12 month low of $1.21 and a 12 month high of $10.10.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $115.83 million during the quarter, compared to analyst estimates of $126.48 million. ChargePoint had a negative return on equity of 125.19% and a negative net margin of 90.32%. As a group, equities analysts anticipate that ChargePoint will post -0.63 EPS 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.