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

ChargePoint (NYSE:CHPT) had its target price dropped by equities researchers at UBS Group from $0.70 to $0.65 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 15.25% from the company’s current price.

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

ChargePoint Stock Down 1.2 %

Shares of CHPT opened at $0.56 on Thursday. ChargePoint has a 12 month low of $0.51 and a 12 month 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 company has a market capitalization of $258.43 million, a PE ratio of -0.76 and a beta of 2.05. The stock’s 50-day moving average price is $0.66 and its two-hundred day moving average price is $0.99.

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

Institutional Investors Weigh In On ChargePoint

Institutional investors have recently made changes to their positions in the stock. Perennial Advisors LLC purchased a new stake in ChargePoint in the 4th quarter worth approximately $26,000. 111 Capital purchased a new stake in shares of ChargePoint in the 4th quarter valued at about $26,000. Brevan Howard Capital Management LP bought a new stake in shares of ChargePoint during the 4th quarter valued at about $27,000. Cibc World Markets Corp bought a new position in shares of ChargePoint in the fourth quarter worth approximately $40,000. Finally, Callan Family Office LLC purchased a new stake in ChargePoint in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

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.