why ChargePoint Holdings Inc. [CHPT] is a Good Choice for Investors After New Price Target of $37.50

ChargePoint Holdings Inc. [NYSE: CHPT] jumped around 1.06 points on Tuesday, while shares priced at $24.53 at the close of the session, up 4.52%. The company report on July 20, 2021 that ChargePoint Announces Agreement to Acquire Leading European E-mobility Technology Provider has·to·be in Transaction Valued at €250 Million.

The acquisition is expected to strengthen ChargePoint’s industry leadership and accelerate pace of electrification across Europe.

ChargePoint Holdings, Inc. (NYSE:CHPT), a leading electric vehicle (EV) charging network operating in North America and Europe, announced it has signed a definitive agreement to acquire has·to·be, an e-mobility provider with a leading European charging software platform. This transaction comes as Europe is among the fastest-growing markets for EV sales worldwide. Under the terms of the agreement, ChargePoint will acquire has·to·be for a total purchase price of approximately €250 million, subject to adjustments, to be paid in cash and stock. The transaction is expected to close in 2021, subject to the satisfaction of regulatory approvals and other customary closing conditions.

ChargePoint Holdings Inc. stock is now -38.80% down from its year-to-date (YTD) trading value. CHPT Stock saw the intraday high of $24.72 and lowest of $23.60 per share. The company’s 52-week high price is 49.48, which means current price is +28.83% above from all time high which was touched on 01/13/21.

Compared to the average trading volume of 6.04M shares, CHPT reached a trading volume of 6806561 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ChargePoint Holdings Inc. [CHPT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CHPT shares is $37.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CHPT stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for ChargePoint Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 22, 2021. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on June 21, 2021, representing the official price target for ChargePoint Holdings Inc. stock. Previously, the target price had yet another raise to $29, while R. F. Lafferty analysts kept a Buy rating on CHPT stock.

The Average True Range (ATR) for ChargePoint Holdings Inc. is set at 1.79, with the Price to Sales ratio for CHPT stock in the period of the last 12 months amounting to 188.00. The Price to Book ratio for the last quarter was 11.05, with the Price to Cash per share for the same quarter was set at 1.96.

How has CHPT stock performed recently?

ChargePoint Holdings Inc. [CHPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.98. With this latest performance, CHPT shares dropped by -25.98% in over the last four-week period, additionally sinking by -40.63% over the last 6 months – not to mention a rise of 140.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CHPT stock in for the last two-week period is set at 37.85, with the RSI for the last a single of trading hit 34.20, and the three-weeks RSI is set at 41.49 for ChargePoint Holdings Inc. [CHPT]. The present Moving Average for the last 50 days of trading for this stock 27.51, while it was recorded at 23.75 for the last single week of trading, and 28.37 for the last 200 days.

ChargePoint Holdings Inc. [CHPT]: Deeper insight into the fundamentals

Return on Total Capital for CHPT is now -4.14, given the latest momentum, and Return on Invested Capital for the company is -220.47. Return on Equity for this stock declined to -220.47, with Return on Assets sitting at -99.39.

Reflecting on the efficiency of the workforce at the company, ChargePoint Holdings Inc. [CHPT] managed to generate an average of -$429,593 per employee.ChargePoint Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.30 and a Current Ratio set at 6.60.

Insider trade positions for ChargePoint Holdings Inc. [CHPT]

There are presently around $1,887 million, or 66.70% of CHPT stock, in the hands of institutional investors. The top three institutional holders of CHPT stocks are: RHO CAPITAL PARTNERS INC with ownership of 25,056,163, which is approximately New of the company’s market cap and around 1.50% of the total institutional ownership; CANADA PENSION PLAN INVESTMENT BOARD, holding 13,754,631 shares of the stock with an approximate value of $337.4 million in CHPT stocks shares; and SPT INVEST MANAGEMENT SARL, currently with $287.05 million in CHPT stock with ownership of nearly New of the company’s market capitalization.

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Positions in ChargePoint Holdings Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 137 institutional holders increased their position in ChargePoint Holdings Inc. [NYSE:CHPT] by around 74,967,527 shares. Additionally, 39 investors decreased positions by around 931,047 shares, while 9 investors held positions by with 1,040,552 shares. The mentioned changes placed institutional holdings at 76,939,126 shares, according to the latest SEC report filing. CHPT stock had 96 new institutional investments in for a total of 72,533,052 shares, while 27 institutional investors sold positions of 505,126 shares during the same period.

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