Market Analysts see ChargePoint Holdings Inc. [CHPT] falling to $18. Time to buy?

ChargePoint Holdings Inc. [NYSE: CHPT] traded at a high on 12/12/22, posting a 3.19 gain after which it closed the day’ session at $10.99. 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 results of the trading session contributed to over 9404415 shares changing hands. Over the past one week, the price volatility of ChargePoint Holdings Inc. stands at 6.91% while the volatility over the past one month is 6.27%.

The market cap for CHPT stock reached $3.86 billion, with 341.68 million shares outstanding and 327.96 million shares in the current float. Compared to the average trading volume of 8.77M shares, CHPT reached a trading volume of 9404415 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 $21.27 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 1.90. 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 9.78. The Price to Book ratio for the last quarter was 9.47, with the Price to Cash per share for the same quarter was set at 1.34.

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 -4.18. With this latest performance, CHPT shares dropped by -12.08% in over the last four-week period, additionally sinking by -9.02% over the last 6 months – not to mention a drop of -45.59% 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 40.74, with the RSI for the last a single of trading hit 40.30, and the three-weeks RSI is set at 41.62 for ChargePoint Holdings Inc. [CHPT]. The present Moving Average for the last 50 days of trading for this stock 12.81, while it was recorded at 10.86 for the last single week of trading, and 14.40 for the last 200 days.

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

Insider trade positions for ChargePoint Holdings Inc. [CHPT]

There are presently around $1,699 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 $246.94 million in CHPT stocks shares; and BLACKROCK INC., currently with $115.22 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 23,232,910 shares. Additionally, 111 investors decreased positions by around 23,419,087 shares, while 90 investors held positions by with 107,957,605 shares. The mentioned changes placed institutional holdings at 154,609,602 shares, according to the latest SEC report filing. CHPT stock had 59 new institutional investments in for a total of 4,624,337 shares, while 47 institutional investors sold positions of 3,952,473 shares during the same period.


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