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

Shares of ChargePoint Holdings, Inc. (NYSE:CHPT) have earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $36.00.

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group initiated coverage on ChargePoint in a report on Tuesday, June 22nd. They issued a “buy” rating and a $40.00 price target on the stock. initiated coverage on ChargePoint in a research note on Thursday, March 25th. They issued a “neutral” rating and a $28.00 target price on the stock. Zacks Investment Research lowered ChargePoint from a “hold” rating to a “sell” rating in a research note on Tuesday, June 8th. Citigroup initiated coverage on ChargePoint in a research note on Thursday, March 25th. They issued a “neutral” rating and a $28.00 target price on the stock. Finally, Cowen upped their target price on ChargePoint from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, June 23rd.

In other ChargePoint news, Director Neil S. Suslak sold 1,129 shares of ChargePoint stock in a transaction that occurred on Tuesday, June 15th. The shares were sold at an average price of $24.77, for a total value of $27,965.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Linse sold 6,831,700 shares of ChargePoint stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $23.50, for a total transaction of $160,544,950.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,697,575 shares of company stock worth $228,283,336. Corporate insiders own 39.50% of the company’s stock.

Large investors have recently modified their holdings of the business. West Oak Capital LLC acquired a new stake in shares of ChargePoint during the 1st quarter valued at $1,789,000. RHO Capital Partners Inc. acquired a new stake in shares of ChargePoint during the 1st quarter valued at $669,000,000. Baillie Gifford & Co. acquired a new stake in shares of ChargePoint in the 1st quarter valued at $106,800,000. Liberty Street Advisors Inc. acquired a new stake in shares of ChargePoint in the 1st quarter valued at $5,869,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of ChargePoint in the 1st quarter valued at $27,130,000. 25.12% of the stock is owned by institutional investors.

Shares of CHPT traded down $1.74 on Friday, reaching $24.22. The stock had a trading volume of 118,960 shares, compared to its average volume of 6,177,723. The company’s 50-day moving average is $27.86. ChargePoint has a twelve month low of $10.03 and a twelve month high of $49.48.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Wednesday, June 2nd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The company had revenue of $40.51 million during the quarter, compared to analyst estimates of $37.23 million. ChargePoint’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.37) EPS. As a group, equities analysts expect that ChargePoint will post -0.55 earnings per share for the current fiscal year.

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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Analyst Recommendations for ChargePoint (NYSE:CHPT)

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