ChargePoint Holdings, Inc. (NYSE:CHPT) – Equities researchers at Oppenheimer decreased their FY2022 earnings per share (EPS) estimates for shares of ChargePoint in a report released on Wednesday, December 8th. Oppenheimer analyst C. Rusch now expects that the company will earn ($0.83) per share for the year, down from their prior estimate of ($0.73). Oppenheimer also issued estimates for ChargePoint’s Q4 2022 earnings at ($0.21) EPS, FY2023 earnings at ($0.60) EPS, FY2024 earnings at ($0.48) EPS, FY2025 earnings at ($0.22) EPS and FY2026 earnings at $0.04 EPS. ChargePoint (NYSE:CHPT) last released its earnings results on Tuesday, December 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $65.03 million during the quarter, compared to analysts’ expectations of $63.26 million. The business’s quarterly revenue was up 188.2% compared to the same quarter last year.
CHPT has been the topic of several other reports. Capital One Financial initiated coverage on ChargePoint in a research report on Tuesday, November 23rd. They set an “equal weight” rating and a $24.00 price target on the stock. Evercore ISI initiated coverage on ChargePoint in a research report on Monday, November 15th. They set an “outperform” rating and a $34.00 price target on the stock. Needham & Company LLC cut their price target on ChargePoint from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 2nd. Stifel Nicolaus began coverage on ChargePoint in a research report on Monday, October 18th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Piper Sandler began coverage on ChargePoint in a research report on Thursday, November 11th. They set a “neutral” rating and a $24.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, ChargePoint currently has an average rating of “Hold” and a consensus target price of $31.06.
NYSE CHPT opened at $20.20 on Monday. The stock’s fifty day moving average price is $23.10 and its 200 day moving average price is $24.47. ChargePoint has a 1 year low of $17.60 and a 1 year high of $49.48.
Several large investors have recently made changes to their positions in CHPT. Renaissance Technologies LLC acquired a new position in ChargePoint during the second quarter worth about $1,463,000. Commonwealth Equity Services LLC grew its position in ChargePoint by 180.1% during the second quarter. Commonwealth Equity Services LLC now owns 87,054 shares of the company’s stock worth $3,024,000 after buying an additional 55,971 shares during the period. Charles Schwab Investment Management Inc. acquired a new position in ChargePoint during the second quarter worth about $39,488,000. JustInvest LLC acquired a new position in ChargePoint during the second quarter worth about $348,000. Finally, Amalgamated Bank acquired a new position in ChargePoint during the second quarter worth about $980,000. 40.88% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Rex S. Jackson sold 10,901 shares of the business’s stock in a transaction on Wednesday, September 22nd. The shares were sold at an average price of $20.15, for a total value of $219,655.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Colleen Jansen sold 49,429 shares of the company’s stock in a transaction dated Tuesday, September 28th. The shares were sold at an average price of $20.59, for a total transaction of $1,017,743.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 227,729 shares of company stock valued at $4,719,738. Insiders own 39.50% of the company’s stock.
ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. 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.
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