UBS Group Lowers ChargePoint (NYSE:CHPT) Price Target to $0.65

ChargePoint (NYSE:CHPT) had its price target lowered by research analysts at UBS Group from $0.70 to $0.65 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 15.25% from the company’s previous close.

A number of other brokerages have also weighed in on CHPT. Evercore ISI lowered ChargePoint from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $4.00 to $1.00 in a research note on Monday, March 31st. The Goldman Sachs Group lowered their price objective on ChargePoint from $0.75 to $0.50 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Needham & Company LLC reissued a “hold” rating on shares of ChargePoint in a research report on Wednesday, March 5th. Finally, Stifel Nicolaus decreased their price target on shares of ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ChargePoint currently has a consensus rating of “Hold” and a consensus target price of $1.52.

ChargePoint Stock Performance

CHPT opened at $0.56 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The stock has a market cap of $258.43 million, a price-to-earnings ratio of -0.76 and a beta of 2.05. ChargePoint has a 12-month low of $0.51 and a 12-month high of $2.44. The business has a 50 day moving average of $0.66 and a 200-day moving average of $0.99.

ChargePoint (NYSE:CHPT) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $101.89 million during the quarter, compared to analyst estimates of $100.99 million. ChargePoint had a negative net margin of 72.62% and a negative return on equity of 106.28%. On average, equities research analysts expect that ChargePoint will post -0.57 earnings per share for the current year.

Institutional Trading of ChargePoint

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in ChargePoint by 4.6% during the third quarter. Geode Capital Management LLC now owns 9,072,168 shares of the company’s stock valued at $12,432,000 after purchasing an additional 399,070 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of ChargePoint by 61.1% during the 4th quarter. Jones Financial Companies Lllp now owns 45,021 shares of the company’s stock worth $48,000 after buying an additional 17,075 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of ChargePoint during the 4th quarter worth $354,000. Corient Private Wealth LLC boosted its stake in ChargePoint by 96.9% in the fourth quarter. Corient Private Wealth LLC now owns 65,765 shares of the company’s stock valued at $70,000 after buying an additional 32,364 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in ChargePoint in the third quarter valued at about $117,000. Institutional investors own 37.77% of the company’s stock.

About ChargePoint

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.