Zacks: Analysts Expect ChargePoint Holdings, Inc. (NYSE:CHPT) Will Announce Earnings of -$0.13 Per Share

Wall Street analysts expect ChargePoint Holdings, Inc. (NYSE:CHPT) to report earnings of ($0.13) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ChargePoint’s earnings. The lowest EPS estimate is ($0.15) and the highest is ($0.12). The business is expected to issue its next quarterly earnings report on Wednesday, December 1st.

According to Zacks, analysts expect that ChargePoint will report full-year earnings of ($0.56) per share for the current fiscal year, with EPS estimates ranging from ($0.59) to ($0.53). For the next financial year, analysts forecast that the firm will report earnings of ($0.43) per share, with EPS estimates ranging from ($0.45) to ($0.39). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for ChargePoint.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Tuesday, August 31st. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). The firm had revenue of $56.12 million for the quarter, compared to analysts’ expectations of $49.06 million. The company’s revenue for the quarter was up 60.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($6.97) earnings per share.

CHPT has been the topic of a number of analyst reports. Zacks Investment Research downgraded ChargePoint from a “hold” rating to a “sell” rating in a report on Tuesday, June 8th. The Goldman Sachs Group initiated coverage on ChargePoint in a report on Monday, August 2nd. They issued a “neutral” rating and a $24.00 price target on the stock. DA Davidson initiated coverage on ChargePoint in a report on Wednesday, July 28th. They issued a “buy” rating and a $30.00 price target on the stock. Needham & Company LLC cut their price target on ChargePoint from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 2nd. Finally, Jefferies Financial Group cut their price target on ChargePoint from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $32.73.

In other ChargePoint news, CMO Colleen Jansen sold 5,634 shares of ChargePoint stock in a transaction dated Wednesday, June 30th. The stock was sold at an average price of $31.99, for a total transaction of $180,231.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Linse sold 6,831,700 shares of ChargePoint stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $23.50, for a total value of $160,544,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,144,056 shares of company stock worth $261,933,149. 39.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. RHO Capital Partners Inc. acquired a new position in shares of ChargePoint in the 1st quarter valued at about $669,000,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of ChargePoint in the 1st quarter valued at about $342,000. Neuberger Berman Group LLC acquired a new position in shares of ChargePoint in the 1st quarter valued at about $27,130,000. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of ChargePoint by 315.0% in the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 2,075 shares of the company’s stock valued at $72,000 after buying an additional 1,575 shares during the period. Finally, Financial Insights Inc. acquired a new position in shares of ChargePoint in the 2nd quarter valued at about $35,000. 31.26% of the stock is owned by institutional investors and hedge funds.

CHPT opened at $20.51 on Tuesday. The stock’s fifty day moving average is $22.54 and its two-hundred day moving average is $24.98. ChargePoint has a 52 week low of $11.11 and a 52 week high of $49.48.

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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Earnings History and Estimates for ChargePoint (NYSE:CHPT)

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