ChargePoint (NYSE:CHPT) Rating Lowered to In-Line at Evercore ISI

Evercore ISI lowered shares of ChargePoint (NYSE:CHPT) from an outperform rating to an in-line rating in a research report sent to investors on Monday morning, Marketbeat reports. Evercore ISI currently has $1.00 price target on the stock, down from their previous price target of $4.00.

CHPT has been the subject of several other reports. UBS Group set a $1.50 target price on shares of ChargePoint in a research report on Wednesday, March 5th. Royal Bank of Canada decreased their price objective on shares of ChargePoint from $2.50 to $2.00 and set a “sector perform” rating for the company in a report on Thursday, December 5th. Stifel Nicolaus cut their target price on ChargePoint from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Needham & Company LLC reiterated a “hold” rating on shares of ChargePoint in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their price objective on ChargePoint from $1.00 to $0.75 and set a “sell” rating on the stock in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ChargePoint currently has a consensus rating of “Hold” and a consensus price target of $1.66.

ChargePoint Price Performance

Shares of NYSE:CHPT opened at $0.62 on Monday. The firm has a market cap of $274.52 million, a price-to-earnings ratio of -0.84 and a beta of 1.85. ChargePoint has a 1 year low of $0.56 and a 1 year high of $2.44. The company has a current ratio of 1.94, a quick ratio of 1.24 and a debt-to-equity ratio of 1.65. The business has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $1.06.

ChargePoint (NYSE:CHPT) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $101.89 million for the quarter, compared to analysts’ expectations of $100.99 million. ChargePoint had a negative return on equity of 106.28% and a negative net margin of 72.62%. As a group, sell-side analysts predict that ChargePoint will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Perennial Advisors LLC bought a new stake in shares of ChargePoint in the fourth quarter valued at approximately $26,000. 111 Capital bought a new stake in ChargePoint in the 4th quarter valued at $26,000. Brevan Howard Capital Management LP acquired a new stake in ChargePoint in the 4th quarter worth $27,000. Cibc World Markets Corp bought a new position in shares of ChargePoint during the 4th quarter worth about $40,000. Finally, Callan Family Office LLC acquired a new position in shares of ChargePoint during the fourth quarter valued at about $45,000. 37.77% of the stock is owned by institutional investors.

ChargePoint Company Profile

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.