ChargePoint Holdings Inc. [CHPT] stock Reiterated by Needham analyst, price target now $18

ChargePoint Holdings Inc. [NYSE: CHPT] loss -1.82% on the last trading session, reaching $12.42 price per share at the time. The company report on October 5, 2022 that ChargePoint announces the CP6000, a global charging solution ready for the electric future.

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ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging network, today announced the launch of the CP6000, ChargePoint’s most flexible and serviceable global AC EV charging solution now available for vehicles of all types and sizes.

This press release features multimedia. View the full release here:

ChargePoint Holdings Inc. represents 339.87 million in outstanding shares, while the company has a total market value of $4.12 billion with the latest information. CHPT stock price has been found in the range of $11.78 to $12.72.

If compared to the average trading volume of 9.68M shares, CHPT reached a trading volume of 7416353 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 $22.57 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 2.00. 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.

Needham have made an estimate for ChargePoint Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 20, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on September 07, 2022, representing the official price target for ChargePoint Holdings Inc. stock. Previously, the target price had yet another raise to $20, while B. Riley Securities analysts kept a Buy rating on CHPT stock.

The Average True Range (ATR) for ChargePoint Holdings Inc. is set at 1.06, with the Price to Sales ratio for CHPT stock in the period of the last 12 months amounting to 12.34. The Price to Book ratio for the last quarter was 10.71, with the Price to Cash per share for the same quarter was set at 1.42.

Trading performance analysis for CHPT stock

ChargePoint Holdings Inc. [CHPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.97. With this latest performance, CHPT shares dropped by -15.80% in over the last four-week period, additionally sinking by -16.87% over the last 6 months – not to mention a drop of -41.83% 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 37.54, with the RSI for the last a single of trading hit 34.57, and the three-weeks RSI is set at 40.43 for ChargePoint Holdings Inc. [CHPT]. The present Moving Average for the last 50 days of trading for this stock 15.38, while it was recorded at 12.82 for the last single week of trading, and 14.66 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 -48.42, with Return on Assets sitting at -22.76.

ChargePoint Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.80.

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

There are presently around $1,937 million, or 54.00% of CHPT stock, in the hands of institutional investors. The top three institutional holders of CHPT stocks are: LINSE CAPITAL LLC with ownership of 41,750,317, which is approximately -14.683% of the company’s market cap and around 2.70% of the total institutional ownership; VANGUARD GROUP INC, holding 21,073,357 shares of the stock with an approximate value of $261.73 million in CHPT stocks shares; and BLACKROCK INC., currently with $101.09 million in CHPT stock with ownership of nearly 2.384% of the company’s market capitalization.

Positions in ChargePoint Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 210 institutional holders increased their position in ChargePoint Holdings Inc. [NYSE:CHPT] by around 16,355,898 shares. Additionally, 110 investors decreased positions by around 13,667,329 shares, while 82 investors held positions by with 125,914,141 shares. The mentioned changes placed institutional holdings at 155,937,368 shares, according to the latest SEC report filing. CHPT stock had 65 new institutional investments in for a total of 4,037,415 shares, while 46 institutional investors sold positions of 2,167,744 shares during the same period.


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