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

ChargePoint Holdings Inc. [NYSE: CHPT] closed the trading session at $11.64 on 12/02/22. The day’s price range saw the stock hit a low of $11.32, while the highest price level was $12.03. The company report on December 1, 2022 that ChargePoint reports third quarter fiscal year 2023 financial results.

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Third quarter fiscal 2023 revenue of $125 million representing 93% year-over-year growth.

GAAP and Non-GAAP gross margin both improved 1 percentage point quarter-over-quarter.

The stocks have a year to date performance of -38.90 percent and weekly performance of -2.92 percent. The stock has been moved at -20.11 percent over the last six months. The stock has performed -10.80 percent around the most recent 30 days and changed -19.72 percent over the most recent 3-months.

If compared to the average trading volume of 8.84M shares, CHPT reached to a volume of 19559819 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $20.88 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 0.84, with the Price to Sales ratio for CHPT stock in the period of the last 12 months amounting to 12.39. The Price to Book ratio for the last quarter was 10.03, with the Price to Cash per share for the same quarter was set at 1.32.

CHPT stock trade performance evaluation

ChargePoint Holdings Inc. [CHPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.92. With this latest performance, CHPT shares dropped by -10.80% in over the last four-week period, additionally sinking by -20.11% over the last 6 months – not to mention a drop of -50.02% 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 42.52, with the RSI for the last a single of trading hit 41.81, and the three-weeks RSI is set at 43.17 for ChargePoint Holdings Inc. [CHPT]. The present Moving Average for the last 50 days of trading for this stock 13.29, while it was recorded at 11.84 for the last single week of trading, and 14.48 for the last 200 days.

ChargePoint Holdings Inc. [CHPT]: An insightful look at the core fundamentals

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.

ChargePoint Holdings Inc. [CHPT]: Insider Ownership positions

There are presently around $1,800 million, or 53.70% of CHPT stock, in the hands of institutional investors. The top three institutional holders of CHPT stocks are: LINSE CAPITAL LLC with ownership of 33,297,103, which is approximately -20.247% of the company’s market cap and around 2.70% of the total institutional ownership; VANGUARD GROUP INC, holding 22,469,637 shares of the stock with an approximate value of $261.55 million in CHPT stocks shares; and BLACKROCK INC., currently with $122.04 million in CHPT stock with ownership of nearly 28.811% of the company’s market capitalization.

Positions in ChargePoint Holdings Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 215 institutional holders increased their position in ChargePoint Holdings Inc. [NYSE:CHPT] by around 23,249,364 shares. Additionally, 112 investors decreased positions by around 23,447,281 shares, while 90 investors held positions by with 107,912,752 shares. The mentioned changes placed institutional holdings at 154,609,397 shares, according to the latest SEC report filing. CHPT stock had 60 new institutional investments in for a total of 4,640,996 shares, while 48 institutional investors sold positions of 3,980,667 shares during the same period.


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