ChargePoint Holdings, Inc. (NYSE:CHPT) Expected to Post Quarterly Sales of $63.08 Million

Equities analysts expect ChargePoint Holdings, Inc. (NYSE:CHPT) to announce $63.08 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for ChargePoint’s earnings. The lowest sales estimate is $61.60 million and the highest is $63.80 million. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, December 7th.

On average, analysts expect that ChargePoint will report full-year sales of $231.11 million for the current financial year, with estimates ranging from $226.00 million to $237.13 million. For the next financial year, analysts expect that the firm will report sales of $346.85 million, with estimates ranging from $226.16 million to $385.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for ChargePoint.

ChargePoint (NYSE:CHPT) last released its quarterly earnings results on Tuesday, August 31st. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). The firm had revenue of $56.12 million during the quarter, compared to the consensus estimate of $49.06 million. The company’s revenue for the quarter was up 60.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($6.97) EPS.

CHPT has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on ChargePoint in a research note on Monday, August 2nd. They issued a “neutral” rating and a $24.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on ChargePoint in a research note on Monday, November 15th. They set a “neutral” rating and a $26.00 price objective on the stock. Bank of America initiated coverage on ChargePoint in a research note on Wednesday, September 8th. They set a “neutral” rating and a $26.00 price objective on the stock. Evercore ISI initiated coverage on ChargePoint in a research note on Monday, November 15th. They issued an “outperform” rating and a $34.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on ChargePoint in a research note on Monday, October 18th. They issued a “buy” rating and a $29.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, ChargePoint has a consensus rating of “Buy” and an average target price of $31.06.

Shares of ChargePoint stock traded up $0.32 during trading on Friday, hitting $26.17. The stock had a trading volume of 6,926,387 shares, compared to its average volume of 6,915,444. ChargePoint has a 12 month low of $17.60 and a 12 month high of $49.48. The business’s 50-day moving average is $22.51 and its 200 day moving average is $24.44.

In related news, Director Christopher Burghardt sold 3,110 shares of the business’s stock in a transaction that occurred on Wednesday, September 22nd. The shares were sold at an average price of $20.15, for a total value of $62,666.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Colleen Jansen sold 3,115 shares of the stock in a transaction on Wednesday, September 22nd. The shares were sold at an average price of $20.15, for a total value of $62,767.25. The disclosure for this sale can be found here. Insiders sold 227,729 shares of company stock valued at $4,719,738 over the last 90 days. 39.50% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Allworth Financial LP bought a new position in shares of ChargePoint in the third quarter worth about $27,000. Winch Advisory Services LLC bought a new stake in ChargePoint during the 2nd quarter valued at approximately $29,000. Nvwm LLC raised its stake in ChargePoint by 2,121.7% during the 3rd quarter. Nvwm LLC now owns 1,533 shares of the company’s stock valued at $31,000 after purchasing an additional 1,464 shares during the period. NEXT Financial Group Inc raised its stake in ChargePoint by 202.6% during the 3rd quarter. NEXT Financial Group Inc now owns 1,622 shares of the company’s stock valued at $32,000 after purchasing an additional 1,086 shares during the period. Finally, Financial Insights Inc. bought a new stake in ChargePoint during the 2nd quarter valued at approximately $35,000. 40.88% of the stock is currently owned by institutional investors and hedge funds.

ChargePoint Company Profile

ChargePoint Holdings, Inc provides electric vehicle (EV) charging networks and charging solutions in the United States. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.

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Earnings History and Estimates for ChargePoint (NYSE:CHPT)

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