Streetbeat News

CHPT

ChargePoint Holdings, Inc.

https://www.chargepoint.com

Industry

Specialty Retail

ChargePoint Holdings, Inc. provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. 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.

Open

1.22

Mkt cap

492M

Volume

High

1.23

P/E Ratio

-1.18

52-wk high

3.54

Low

1.14

Div yield

N/A

52-wk low

1.14

The Greenbrier Companies, Inc. (NYSE:GBX) reported strong earnings, surpassing estimates with adjusted EPS of 96 cents against expected 73 cents. FY24 revenue is projected between $3.4 billion to $3.7 billion, compared to estimates of $3.58 billion. Greenbrier's shares jumped 13.8% to $50.50. Other stocks also moved higher, including AxoGen, Kura Sushi USA, Peloton Interactive, and Elanco Animal Health, following positive financial updates, upgrades, and executive announcements.

Portfolio Pulse from Avi Kapoor

January 05, 2024 | 3:18 pm

ChargePoint Holdings Inc (NASDAQ:CHPT) stock rose by 19.6% to $2.87 following the Federal Reserve's decision to leave interest rates unchanged, with projections of rate cuts in 2024-2026. The unchanged rates suggest lower borrowing costs, which could enable ChargePoint to raise capital more cheaply for expansion and technology development. The positive sentiment is also supported by the outcomes of the COP28 climate summit, which emphasized a shift from fossil fuels, benefiting clean energy companies like ChargePoint.

Portfolio Pulse from Henry Khederian

December 14, 2023 | 7:43 pm

Industrial stocks are experiencing an uptick following the Federal Reserve's decision to keep interest rates unchanged. The market's positive reaction is also fueled by expectations of potential future rate cuts as indicated by the majority of Fed officials.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 8:51 pm

Torrid Holdings Inc. reported better-than-expected Q3 results and raised FY23 guidance, causing its shares to jump 22.3%. MBIA Inc. declared an $8.00 per share extraordinary dividend, leading to a 63.8% share increase. Other stocks like ALX Oncology, Virco Mfg., and Bitfarms also saw significant gains after positive upgrades, earnings reports, and corporate actions.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 3:40 pm

Citigroup analyst Itay Michaeli has maintained a Neutral rating on ChargePoint Holdings (CHPT) but has significantly lowered the price target from $8.25 to $2.4.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 11:36 am

ChargePoint Holdings Inc (NYSE:CHPT) reported Q3 financial results with revenue of $110.3 million, missing estimates of $122.408 million, and a 43 cent loss per share compared to a 25 cent loss in the prior year. Revenues decreased by 12% year-over-year, with networked charging systems revenue down 24% and subscription revenue up 41%. The company's gross margin was negative 22%, down from 18% year-over-year, and ended the quarter with $397.4 million in cash and equivalents. ChargePoint reaffirmed its expectation for positive adjusted EBITDA in Q4 of fiscal 2025. Analysts from Needham and B. Riley Securities provided mixed reactions, with Needham reiterating a Buy rating with a $4 price target, and B. Riley downgrading the stock from Buy to Neutral with a $2.50 price target. ChargePoint shares saw a slight decline of 0.98% to $2.02.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 2:46 pm

B. Riley Securities analyst Christopher Souther has downgraded ChargePoint Holdings (CHPT) from Buy to Neutral and set a new price target of $2.5. This change reflects a revised outlook on the company's stock by the analyst.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:02 pm

ChargePoint Holdings (NYSE:CHPT) has received 10 analyst ratings in the last quarter, with 4 bullish, 3 somewhat bullish, and 3 indifferent. The average price target is $5.92, which is significantly higher than the current price of $2.0099, suggesting a potential upside. However, this target represents a 38.14% decrease from the previous target of $9.57. Analysts use various data sources to provide these ratings, which are opinions and not guarantees of performance.

Portfolio Pulse from Benzinga Insights

December 07, 2023 | 2:00 pm

Needham analyst Chris Pierce has reiterated a Buy rating on ChargePoint Holdings (NYSE:CHPT) and maintained a price target of $4. This reaffirmation of the company's stock rating and price target suggests confidence in ChargePoint's future performance.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 12:11 pm

ChargePoint Holdings Inc (NYSE:CHPT) reported a 12% year-over-year decrease in Q3 revenue to $110.3 million, missing consensus estimates. The company experienced a larger loss per share of 43 cents compared to 25 cents in the previous year. Networked charging systems revenue fell 24%, while subscription revenue increased 41%. Gross margin turned negative at -22%. ChargePoint ended the quarter with $397.4 million in cash and equivalents. Despite the challenges, the company reaffirmed its goal for positive adjusted EBITDA by Q4 of fiscal 2025. CHPT shares have fallen 25% over the last month, with a slight increase of 0.98% after hours to $2.06.

Portfolio Pulse from Adam Eckert

December 06, 2023 | 9:25 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.