why ChargePoint Holdings Inc. [CHPT] is a Good Choice for Investors After New Price Target of $24.21

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ChargePoint Holdings Inc. [NYSE: CHPT] gained 4.82% or 0.67 points to close at $14.57 with a heavy trading volume of 19195031 shares. The company report on June 2, 2022 that ChargePoint Senior Vice President Bill Loewenthal Recognized Among Top 20 Global Chief Product Officers.


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Loewenthal recognized among global leaders driving digital transformations through product innovation.

ChargePoint (NYSE: CHPT), a leading electric vehicle (EV) charging network, today announced that Bill Loewenthal, senior vice president, product, has been recognized as one of the top Chief Product Officers (CPOs) in the inaugural Global CPO 20, presented by Products That Count in partnership with Capgemini Invent and Mighty Capital.

It opened the trading session at $13.45, the shares rose to $14.965 and dropped to $13.3401, the range by which the price of stock traded the whole day. The daily chart for CHPT points out that the company has recorded -37.44% loss over the past six months. However, it is still -71.41% lower than its most recent low trading price.

If we look at the average trading volume of 9.66M shares, CHPT reached to a volume of 19195031 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $24.21 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 2.10. 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.

Tudor Pickering Holt & Co. have made an estimate for ChargePoint Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 21, 2022. While these analysts kept the previous recommendation, Needham dropped their target price from $35 to $24. The new note on the price target was released on February 22, 2022, representing the official price target for ChargePoint Holdings Inc. stock. Previously, the target price had yet another raise to $20, while JP Morgan analysts kept a Overweight rating on CHPT stock.

The Average True Range (ATR) for ChargePoint Holdings Inc. is set at 1.20, with the Price to Sales ratio for CHPT stock in the period of the last 12 months amounting to 16.64. The Price to Book ratio for the last quarter was 8.83, with the Price to Cash per share for the same quarter was set at 0.98.

Trading performance analysis for CHPT stock

ChargePoint Holdings Inc. [CHPT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.37. With this latest performance, CHPT shares gained by 2.46% in over the last four-week period, additionally sinking by -37.44% over the last 6 months – not to mention a drop of -48.17% 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 60.44, with the RSI for the last a single of trading hit 68.14, and the three-weeks RSI is set at 55.61 for ChargePoint Holdings Inc. [CHPT]. The present Moving Average for the last 50 days of trading for this stock 14.33, while it was recorded at 13.43 for the last single week of trading, and 18.05 for the last 200 days.

ChargePoint Holdings Inc. [CHPT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ChargePoint Holdings Inc. [CHPT] shares currently have an operating margin of -110.14 and a Gross Margin at +20.30. ChargePoint Holdings Inc.’s Net Margin is presently recorded at -54.87.

Return on Equity for this stock declined to -50.13, with Return on Assets sitting at -22.24.

ChargePoint Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.50.

An analysis of insider ownership at ChargePoint Holdings Inc. [CHPT]

There are presently around $2,262 million, or 60.10% of CHPT stock, in the hands of institutional investors. The top three institutional holders of CHPT stocks are: LINSE CAPITAL LLC with ownership of 48,935,549, which is approximately -4.239% of the company’s market cap and around 1.50% of the total institutional ownership; VANGUARD GROUP INC, holding 19,535,016 shares of the stock with an approximate value of $284.62 million in CHPT stocks shares; and LINSE CAPITAL MANAGEMENT PR LLC, currently with $130.6 million in CHPT stock with ownership of nearly -51.134% of the company’s market capitalization.

Positions in ChargePoint Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 195 institutional holders increased their position in ChargePoint Holdings Inc. [NYSE:CHPT] by around 11,176,454 shares. Additionally, 133 investors decreased positions by around 20,923,622 shares, while 75 investors held positions by with 123,170,214 shares. The mentioned changes placed institutional holdings at 155,270,290 shares, according to the latest SEC report filing. CHPT stock had 73 new institutional investments in for a total of 3,880,459 shares, while 66 institutional investors sold positions of 3,166,639 shares during the same period.

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