ChargePoint Holdings, Inc. (NYSE:CHPT) Receives $4.88 Consensus Target Price from Analysts

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

Several analysts have recently commented on the stock. B. Riley raised shares of ChargePoint to a “hold” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group reissued a “sell” rating and issued a $1.50 target price (down from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. TD Cowen cut their price target on ChargePoint from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Benchmark decreased their price target on ChargePoint from $4.25 to $3.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $3.00 price objective on shares of ChargePoint in a report on Thursday, June 6th.

ChargePoint Trading Up 4.7 %

Shares of CHPT opened at $2.02 on Friday. The stock has a fifty day moving average price of $1.76 and a two-hundred day moving average price of $1.80. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.45 and a current ratio of 2.13. The company has a market cap of $855.19 million, a price-to-earnings ratio of -1.71 and a beta of 1.72. ChargePoint has a 52-week low of $1.21 and a 52-week high of $8.68.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Wednesday, June 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.03. ChargePoint had a negative return on equity of 127.18% and a negative net margin of 93.05%. The business had revenue of $107.04 million during the quarter, compared to analysts’ expectations of $106.09 million. Analysts predict that ChargePoint will post -0.54 EPS for the current fiscal year.

Insider Activity

In other ChargePoint news, CAO Henrik Gerdes sold 43,596 shares of ChargePoint stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $1.50, for a total transaction of $65,394.00. Following the transaction, the chief accounting officer now directly owns 438,004 shares in the company, valued at $657,006. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mansi Khetani sold 19,007 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 402,493 shares of the company’s stock, valued at $563,490.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Henrik Gerdes sold 43,596 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $1.50, for a total transaction of $65,394.00. Following the completion of the sale, the chief accounting officer now directly owns 438,004 shares in the company, valued at $657,006. The disclosure for this sale can be found here. Insiders sold 95,099 shares of company stock valued at $137,498 in the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Trading of ChargePoint

Several hedge funds and other institutional investors have recently modified their holdings of CHPT. Treasurer of the State of North Carolina grew its holdings in shares of ChargePoint by 3.7% during the fourth quarter. Treasurer of the State of North Carolina now owns 136,113 shares of the company’s stock worth $319,000 after buying an additional 4,910 shares in the last quarter. Independent Advisor Alliance grew its stake in shares of ChargePoint by 34.2% during the 4th quarter. Independent Advisor Alliance now owns 19,945 shares of the company’s stock worth $47,000 after acquiring an additional 5,085 shares in the last quarter. O ROURKE & COMPANY Inc raised its holdings in shares of ChargePoint by 34.2% in the fourth quarter. O ROURKE & COMPANY Inc now owns 24,380 shares of the company’s stock valued at $57,000 after purchasing an additional 6,207 shares during the last quarter. Core Wealth Management Inc. lifted its position in shares of ChargePoint by 46.8% in the fourth quarter. Core Wealth Management Inc. now owns 20,015 shares of the company’s stock worth $47,000 after purchasing an additional 6,380 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in ChargePoint by 6.1% during the first quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock worth $259,000 after purchasing an additional 7,838 shares during the last quarter. Institutional investors and hedge funds own 37.77% of the company’s stock.

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.