ChargePoint (NYSE:CHPT) Issues FY 2022 Earnings Guidance

ChargePoint (NYSE:CHPT) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $195 million-205 million, compared to the consensus revenue estimate of $203.90 million.

Shares of NYSE:CHPT traded up $0.36 during midday trading on Friday, reaching $28.45. 65,409 shares of the company’s stock traded hands, compared to its average volume of 5,223,822. ChargePoint has a 1 year low of $9.82 and a 1 year high of $49.48. The company has a fifty day simple moving average of $24.90.

ChargePoint (NYSE:CHPT) last announced its earnings results on Wednesday, June 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $40.51 million during the quarter, compared to analysts’ expectations of $37.23 million. During the same quarter last year, the business earned ($2.37) EPS. ChargePoint’s quarterly revenue was up 23.6% on a year-over-year basis. As a group, analysts forecast that ChargePoint will post -0.56 earnings per share for the current year.

A number of research analysts have recently issued reports on CHPT shares. Oppenheimer started coverage on ChargePoint in a research report on Monday, March 8th. They set an outperform rating and a $39.00 target price on the stock. Cowen started coverage on ChargePoint in a report on Monday, March 15th. They issued an outperform rating and a $43.00 price objective on the stock. Zacks Investment Research lowered ChargePoint from a hold rating to a sell rating in a report on Tuesday. Citigroup started coverage on ChargePoint in a report on Thursday, March 25th. They issued a neutral rating and a $28.00 price objective on the stock. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on ChargePoint in a report on Thursday, March 25th. They issued a neutral rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $35.50.

ChargePoint Company Profile

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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