ChargePoint Holdings, Inc. (NYSE:CHPT) Given Average Rating of “Hold” by Analysts

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have received a consensus rating of “Hold” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $27.88.

CHPT has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of ChargePoint from $15.00 to $10.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Royal Bank Of Canada restated a “sector perform” rating and issued a $20.00 target price on shares of ChargePoint in a research note on Thursday, June 5th. UBS Group reduced their price target on ChargePoint from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. TD Cowen upgraded ChargePoint to a “hold” rating in a report on Monday, July 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Thursday, June 5th.

Hedge Funds Weigh In On ChargePoint

A number of institutional investors and hedge funds have recently modified their holdings of CHPT. MetLife Investment Management LLC raised its position in ChargePoint by 9.8% during the 4th quarter. MetLife Investment Management LLC now owns 251,168 shares of the company’s stock valued at $269,000 after purchasing an additional 22,369 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ChargePoint in the fourth quarter valued at about $354,000. Invesco Ltd. raised its holdings in shares of ChargePoint by 13.1% in the fourth quarter. Invesco Ltd. now owns 5,029,849 shares of the company’s stock valued at $5,382,000 after acquiring an additional 583,761 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in ChargePoint in the fourth quarter worth about $268,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of ChargePoint by 9.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 273,140 shares of the company’s stock valued at $293,000 after purchasing an additional 23,370 shares in the last quarter. Hedge funds and other institutional investors own 37.77% of the company’s stock.

ChargePoint Price Performance

CHPT stock opened at $8.92 on Thursday. The firm has a market cap of $204.36 million, a P/E ratio of -0.74 and a beta of 2.23. The firm’s fifty day moving average is $13.80 and its 200 day moving average is $14.30. ChargePoint has a 52 week low of $8.55 and a 52 week high of $45.40. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.12 and a current ratio of 1.82.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Wednesday, June 4th. The company reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($1.00). The company had revenue of $97.64 million for the quarter, compared to the consensus estimate of $100.43 million. ChargePoint had a negative return on equity of 131.65% and a negative net margin of 65.79%. During the same quarter in the previous year, the business earned ($2.20) earnings per share. Research analysts predict that ChargePoint will post -0.57 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.