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

ChargePoint Holdings, Inc. (NYSE:CHPT) shares are trading slightly lower today, following a report by Needham analyst Chris Pierce on industry pressures. Despite EV sales growth outpacing EVSE growth, increased charger utilization hasn't spurred EVSE installations. CHPT has lost over 80% in value over the past year but has recently formed partnerships with Jumptech and AcBel Polytech to improve home charger installations and develop EV charging solutions.

Portfolio Pulse from Nabaparna Bhattacharya

April 05, 2024 | 4:19 pm

ChargePoint Holdings (NYSE:CHPT) has seen diverse analyst ratings over the last three months, with a shift towards a more bullish stance in the last 30 days. The average 12-month price target among analysts is $3.31, with a recent decrease of 5.43%. Financial challenges such as revenue decline, low net margin, and high debt-to-equity ratio are highlighted, alongside the importance of understanding analyst ratings and their impact on investment decisions.

Portfolio Pulse from Benzinga Insights

April 04, 2024 | 1:01 pm

Needham analyst Chris Pierce reiterated a Buy rating on ChargePoint Holdings (CHPT) and maintained a $3 price target.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 10:18 am

ChargePoint Holdings Inc (NYSE:CHPT) shares dropped 7.9% to $1.74, retracting after gains earlier in the week due to the Federal Reserve's decision to maintain interest rates at 5.25% to 5.5%. The Fed plans three rate cuts in 2024, targeting a 4.6% rate, despite internal dissent. Lower future rates and revised economic growth projections for 2024 could benefit ChargePoint by boosting economic activity and electric vehicle adoption. ChargePoint does not pay dividends but may engage in other capital allocation strategies.

Portfolio Pulse from Henry Khederian

March 22, 2024 | 3:35 pm

ChargePoint Holdings (NYSE:CHPT) has seen a 5.36% increase in short interest since its last report, with 89.65 million shares sold short, representing 22.99% of its float. This is significantly higher than its peer group average of 8.34%. The rise in short interest suggests a bearish market sentiment towards CHPT, but it's important to note that an increase in short interest can sometimes be bullish.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 6:30 pm

RBC Capital Markets analyst Christopher Dendrinos downgraded ChargePoint Holdings, Inc. (CHPT) to Sector Perform from Outperform, citing slow EV market growth and emerging cost reduction strategies. The downgrade follows a Q4 sales miss and concerns over sluggish macro demand impacting financial performance. Despite strong network utilization, consumer sentiment remains low, affecting demand for charging infrastructure. However, ChargePoint's partnership with AcBel aims to support cost reduction and is expected to improve gross margins by FY25.

Portfolio Pulse from Nabaparna Bhattacharya

March 06, 2024 | 7:51 pm

RF Lafferty analyst Jaime Perez maintains a Hold rating on ChargePoint Holdings (CHPT) and lowers the price target from $4 to $3.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:18 pm

Benchmark analyst Michael Legg reiterates a Buy rating on ChargePoint Holdings (CHPT) and maintains a price target of $4.25.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:51 pm

DA Davidson analyst Matt Summerville maintains a Buy rating on ChargePoint Holdings (CHPT) and sets a price target of $4.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:27 pm

RBC Capital analyst Chris Dendrinos downgraded ChargePoint Holdings (CHPT) from Outperform to Sector Perform and reduced the price target from $3.5 to $3. This adjustment reflects a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 2:48 pm

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