Brokerages Set ChargePoint Holdings, Inc. (NYSE:CHPT) Target Price at $2.47

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have been given an average rating of “Hold” by the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $2.47.

CHPT has been the topic of several research analyst reports. Capital One Financial upgraded shares of ChargePoint to a “strong-buy” rating in a research report on Tuesday, September 17th. UBS Group reduced their price target on shares of ChargePoint from $1.80 to $1.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Stifel Nicolaus lowered their price objective on shares of ChargePoint from $3.00 to $2.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut shares of ChargePoint from an “overweight” rating to an “underweight” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada lowered their price target on shares of ChargePoint from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Thursday, September 5th.

ChargePoint Stock Performance

NYSE:CHPT opened at $1.26 on Friday. ChargePoint has a 52-week low of $1.05 and a 52-week high of $3.13. The firm has a market cap of $541.63 million, a price-to-earnings ratio of -1.27 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. The business’s fifty day moving average is $1.29 and its 200 day moving average is $1.59.

ChargePoint (NYSE:CHPT) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.15). The company had revenue of $108.54 million for the quarter, compared to the consensus estimate of $114.15 million. ChargePoint had a negative return on equity of 112.67% and a negative net margin of 89.12%. Research analysts predict that ChargePoint will post -0.56 EPS for the current year.

Insider Buying and Selling

In other news, CFO Mansi Khetani sold 23,409 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 $31,602.15. Following the transaction, the chief financial officer now directly owns 849,084 shares in the company, valued at $1,146,263.40. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Henrik Gerdes sold 26,288 shares of ChargePoint stock in a transaction on Friday, October 11th. The stock was sold at an average price of $1.32, for a total value of $34,700.16. Following the completion of the sale, the chief accounting officer now directly owns 390,596 shares of the company’s stock, valued at $515,586.72. The trade was a 6.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,803 shares of company stock worth $135,295 in the last three months. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On ChargePoint

A number of large investors have recently made changes to their positions in CHPT. CIBC Asset Management Inc boosted its holdings in shares of ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company’s stock worth $26,000 after buying an additional 5,770 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of ChargePoint by 41.4% during the 2nd quarter. Hsbc Holdings PLC now owns 26,397 shares of the company’s stock worth $39,000 after acquiring an additional 7,723 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of ChargePoint by 6.1% during the 1st quarter. Public Employees Retirement System of Ohio now owns 136,355 shares of the company’s stock valued at $259,000 after acquiring an additional 7,838 shares during the period. PFG Investments LLC increased its stake in shares of ChargePoint by 32.2% in the 2nd quarter. PFG Investments LLC now owns 34,102 shares of the company’s stock worth $51,000 after purchasing an additional 8,297 shares in the last quarter. Finally, Jeppson Wealth Management LLC raised its holdings in ChargePoint by 28.3% in the 3rd quarter. Jeppson Wealth Management LLC now owns 42,940 shares of the company’s stock worth $59,000 after purchasing an additional 9,480 shares during the period. 37.77% of the stock is currently owned by institutional investors.

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.