The Benchmark Company lifts ChargePoint Holdings Inc [CHPT] price estimate. Who else is bullish?

ChargePoint Holdings Inc [NYSE: CHPT] slipped around -0.02 points on Friday, while shares priced at $1.90 at the close of the session, down -1.04%. The company report on February 20, 2024 at 5:00 AM that ChargePoint Collaborates with Product Development and Manufacturing Leaders AcBel and Kinpo, Improving Cost Structure and Time to Market.

ChargePoint (NYSE: CHPT), a leading provider of networked charging solutions for electric vehicles (EVs), and AcBel Polytech Inc. (“AcBel”) (TWSE:6282), a leading power supply manufacturer under Kinpo Group, today announced an agreement to jointly develop EV charging solutions. AcBel will begin to co-design hardware for ChargePoint’s portfolio of EV charging solutions – bringing products to market faster and at a lower cost, while maintaining ChargePoint’s high quality and reliability standards.

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The agreement expands ChargePoint’s existing manufacturing agreement with AcBel. By combining AcBel’s 40 years of expertise in power design and Kinpo’s electronic manufacturing capabilities, ChargePoint believes the partnership will bolster its research and development capabilities, enabling it to bring new products to market faster and at a lower cost. By harmonizing the processes of engineering, design, development and production with AcBel and Kinpo, ChargePoint will have an end-to-end solution enabling ChargePoint’s engineering team to focus on future innovation.

Compared to the average trading volume of 17.29M shares, CHPT reached a trading volume of 12369117 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 $3.46 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 2.22. 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.

The Benchmark Company have made an estimate for ChargePoint Holdings Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 21, 2024. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $5 to $2.50. The new note on the price target was released on December 07, 2023, representing the official price target for ChargePoint Holdings Inc stock. Previously, the target price had yet another raise to $2, while HSBC Securities analysts kept a Hold rating on CHPT stock. On November 28, 2023, analysts decreased their price target for CHPT shares from 9 to 2.25.

The Average True Range (ATR) for ChargePoint Holdings Inc is set at 0.17, with the Price to Sales ratio for CHPT stock in the period of the last 12 months amounting to 1.46. The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 0.95.

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 -15.56. With this latest performance, CHPT shares dropped by -6.40% in over the last four-week period, additionally sinking by -73.13% over the last 6 months – not to mention a drop of -83.23% 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 43.91, with the RSI for the last a single of trading hit 40.83, and the three-weeks RSI is set at 44.56 for ChargePoint Holdings Inc [CHPT]. The present Moving Average for the last 50 days of trading for this stock 2.1456, while it was recorded at 1.9900 for the last single week of trading, and 5.1363 for the last 200 days.

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

ChargePoint Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.77 and a Current Ratio set at 2.34.

Earnings analysis for ChargePoint Holdings Inc [CHPT]

With the latest financial reports released by the company, ChargePoint Holdings Inc posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 23.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CHPT.

Insider trade positions for ChargePoint Holdings Inc [CHPT]

The top three institutional holders of CHPT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CHPT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CHPT stock with ownership which is approximately 5.8325%.