ChargePoint Holdings Inc. [NYSE: CHPT] stock went on a downward path that fall over -5.10% on Friday, amounting to a one-week price decrease of less than -12.73%. The company report on March 2, 2023 that ChargePoint reports fourth quarter and full fiscal year 2023 financial results.
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Fourth quarter fiscal 2023 revenue of $153 million representing 93% year-over-year growth.
Full fiscal year revenue of $468 million representing 94% year-over-year growth.
Over the last 12 months, CHPT stock dropped by -44.65%. The one-year ChargePoint Holdings Inc. stock forecast points to a potential upside of 47.93. The average equity rating for CHPT stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.48 billion, with 341.68 million shares outstanding and 334.88 million shares in the current float. Compared to the average trading volume of 9.96M shares, CHPT stock reached a trading volume of 13861428 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $18.57 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 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 March 03, 2023. While these analysts kept the previous recommendation, Needham dropped their target price from $24 to $18. The new note on the price target was released on October 20, 2022, representing the official price target for ChargePoint Holdings Inc. stock. Previously, the target price had yet another raise to $22, while Credit Suisse analysts kept a Outperform rating on CHPT stock.
The Average True Range (ATR) for ChargePoint Holdings Inc. is set at 0.82, with the Price to Sales ratio for CHPT stock in the period of the last 12 months amounting to 7.44. The Price to Book ratio for the last quarter was 9.67, with the Price to Cash per share for the same quarter was set at 1.10.
CHPT Stock Performance Analysis:
ChargePoint Holdings Inc. [CHPT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.73. With this latest performance, CHPT shares dropped by -20.61% in over the last four-week period, additionally sinking by -43.94% over the last 6 months – not to mention a drop of -44.65% 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 36.46, with the RSI for the last a single of trading hit 30.23, and the three-weeks RSI is set at 40.31 for ChargePoint Holdings Inc. [CHPT]. The present Moving Average for the last 50 days of trading for this stock 11.13, while it was recorded at 10.27 for the last single week of trading, and 13.12 for the last 200 days.
Insight into ChargePoint Holdings Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and ChargePoint Holdings Inc. [CHPT] shares currently have an operating margin of -72.06 and a Gross Margin at +16.53. ChargePoint Holdings Inc.’s Net Margin is presently recorded at -73.59.
Return on Equity for this stock declined to -76.32, with Return on Assets sitting at -35.30.
ChargePoint Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.70.
ChargePoint Holdings Inc. [CHPT] Insider Position Details
There are presently around $1,475 million, or 53.40% of CHPT stock, in the hands of institutional investors. The top three institutional holders of CHPT stocks are: LINSE CAPITAL LLC with ownership of 24,792,264, which is approximately -25.542% of the company’s market cap and around 2.70% of the total institutional ownership; VANGUARD GROUP INC, holding 24,365,098 shares of the stock with an approximate value of $235.61 million in CHPT stocks shares; and BLACKROCK INC., currently with $126.67 million in CHPT stock with ownership of nearly 24.936% of the company’s market capitalization.
Positions in ChargePoint Holdings Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 230 institutional holders increased their position in ChargePoint Holdings Inc. [NYSE:CHPT] by around 19,188,883 shares. Additionally, 152 investors decreased positions by around 21,172,161 shares, while 78 investors held positions by with 112,126,019 shares. The mentioned changes placed institutional holdings at 152,487,063 shares, according to the latest SEC report filing. CHPT stock had 96 new institutional investments in for a total of 2,502,161 shares, while 55 institutional investors sold positions of 1,955,879 shares during the same period.