Analysts Set ChargePoint Holdings, Inc. (NYSE:CHPT) Price Target at $13.56

ChargePoint Holdings, Inc. (NYSE:CHPT) has been given an average rating of “Reduce” by the eleven analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $13.1667.

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of ChargePoint from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Thursday, September 4th. Needham & Company LLC restated a “hold” rating on shares of ChargePoint in a research note on Thursday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ChargePoint in a research report on Wednesday, October 8th. UBS Group set a $12.00 price target on ChargePoint and gave the company a “neutral” rating in a report on Friday, September 19th. Finally, Roth Capital set a $8.50 price objective on ChargePoint and gave the stock a “neutral” rating in a research note on Friday.

ChargePoint Stock Up 22.3%

CHPT stock opened at $10.42 on Wednesday. The company has a market cap of $243.24 million, a price-to-earnings ratio of -1.01 and a beta of 1.43. The company has a debt-to-equity ratio of 4.38, a quick ratio of 1.00 and a current ratio of 1.67. The business’s 50-day moving average is $10.04 and its two-hundred day moving average is $11.64. ChargePoint has a fifty-two week low of $7.30 and a fifty-two week high of $29.60.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Thursday, December 4th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.88). ChargePoint had a negative net margin of 59.54% and a negative return on equity of 175.55%. The business had revenue of $105.67 million for the quarter, compared to analysts’ expectations of $96.51 million. During the same period in the previous year, the company earned ($1.94) EPS. As a group, analysts forecast that ChargePoint will post -0.57 earnings per share for the current year.

Insider Buying and Selling

In other ChargePoint news, insider John David Vice sold 2,363 shares of ChargePoint stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $11.27, for a total transaction of $26,631.01. Following the transaction, the insider owned 123,615 shares of the company’s stock, valued at $1,393,141.05. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 7,426 shares of company stock worth $83,691. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of ChargePoint

Several institutional investors and hedge funds have recently modified their holdings of CHPT. BNP Paribas Financial Markets boosted its holdings in ChargePoint by 26.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 43,534 shares of the company’s stock worth $475,000 after buying an additional 9,208 shares during the period. First Trust Advisors LP purchased a new position in shares of ChargePoint in the third quarter valued at about $600,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of ChargePoint in the third quarter worth about $60,000. Sullivan Wood Capital Management LLC purchased a new stake in shares of ChargePoint during the third quarter worth about $355,000. Finally, Corient Private Wealth LLC grew its position in shares of ChargePoint by 57.1% during the second quarter. Corient Private Wealth LLC now owns 67,345 shares of the company’s stock worth $47,000 after purchasing an additional 24,470 shares in the last quarter. 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.