ChargePoint (NYSE: CHPT) stock is losing power on Tuesday and it has to do with a recent stock offering announcement. The drop comes after the company announced that certain shareholders are planning to launch a secondary stock offering.
What happened to ChargePoint Holdings stock in December?
· Owners of ChargePoint Holdings ( CHPT -8.80%) stock needed a strong stomach to end 2021. After a 24% gain to start the fourth quarter …
Should you buy ChargePoint stock?
· Shares of ChargePoint ( CHPT -11.40%) crashed today, down by 10% as of 3:30 p.m. EDT, after the company announced it is conducting a secondary offering. The news comes just a few months after...
Will the infrastructure bill put more downward pressure on ChargePoint stock?
· What happened Shares of ChargePoint (NYSE: CHPT) crashed today, down by 10% as of 3:30 p.m. EDT, after the company announced it is conducting a secondary offering. The news comes just a few months ...
What is the short interest in ChargePoint stock?
· Jul. 13, 2021, 04:14 PM. Shares of ChargePoint (NYSE: CHPT) crashed today, down by 10% as of 3:30 p.m. EDT, after the company announced it is conducting a secondary offering. The news comes just a ...
Is ChargePoint a good investment?
ChargePoint is bursting with potential and remains my favorite EV charging stock to buy now. But some investors may be better off limiting their exposure to ChargePoint until the company proves its fiscal 2022 numbers came in on target and its guidance for fiscal 2023 forecasts sustained higher growth.
Is ChargePoint a buy hold or sell?
ChargePoint has received a consensus rating of Buy. The company's average rating score is 2.64, and is based on 9 buy ratings, 5 hold ratings, and no sell ratings.
Will ChargePoint ever be profitable?
Given the immense expected growth in EVs, ChargePoint is likely to continue growing its revenue fast in the coming years, too. If the company manages to keep its operating expenses in check, as it is hoping, it should become profitable in a few years.
Is ChargePoint overvalued?
ChargePoint (CHPT) and Blink (BLNK) are two EV charging companies that are not only significantly overvalued but have also lost more than 20% so far this year.
What is the forecast for ChargePoint stock?
Stock Price Forecast The 18 analysts offering 12-month price forecasts for ChargePoint Holdings Inc have a median target of 24.50, with a high estimate of 46.00 and a low estimate of 16.00. The median estimate represents a +154.94% increase from the last price of 9.61.
What is ChargePoint price target?
Stock Price TargetHigh$46.00Low$16.00Average$26.22Current Price$10.39
Will ChargePoint grow?
ChargePoint will report Q4 2021 earnings on March 2nd and provide forward guidance for 2022. EV sales exploded in 2021 with signs pointing towards more industry growth in 2022. CHPT stock has fallen near pre-SPAC IPO levels and now is a good chance to buy the dip while there is fear surrounding high growth stocks.
What is the best EV charging company stock?
EV charging stations stock listEVgo (EVGO)Volta (VLTA)WallBox NV (WBX)Beam Global (BEEM)Allego (ALLG)Tritium (DCFC)Tesla (TSLA)NIO (NIO)More items...•
Why is ChargePoint stock going up?
A further break-up of its revenue revealed robust demand for ChargePoint's networked EV charging hardware as well as strong growth in recurring revenue from its subscription software and services. So as of Jan. 31, the company had more than 174,000 ports versus 163,000 ports as of Oct. 31, 2021.
Why is ChargePoint a buy?
ChargePoint Earnings are Racing Not only was that better than analyst expectations for $75.9 million, it was also better than company expectations for $75.9 million. For fiscal year 2023, CHPT expects for sales to come in between $450 million and $500 million. That is also above expectations for $418 million in sales.
Is ChargePoint a buy Zacks?
- Sell. Zacks' proprietary data indicates that ChargePoint Holdings, Inc. is currently rated as a Zacks Rank 4 and we are expecting a below average return from the CHPT shares relative to the market in the next few months.
Will EV sector bounce back?
Per BloombergNEF, global EV sales are expected to skyrocket 168% in 2021 from 2019 levels. A host of factors such as pollution issues, technical superiority and stricter fuel-emission standards have turned the fortunes in favor of electric vehicles (EVs).
Is NIO a buy or sell?
NIO is increasing sales in spite of the industry's worldwide problems. NIO appears to be undervalued compared to EV competitors such as Rivian and Lucid. Market analysts love NIO. NIO has increased revenues, gross profit and free cash flow substantially over the last eight quarters.
Is plug a buy Zacks?
Zacks' proprietary data indicates that Plug Power, Inc. is currently rated as a Zacks Rank 4 and we are expecting a below average return from the PLUG shares relative to the market in the next few months.
Is Lucid stock a buy?
Lucid Motors stock is a promising long-term EV stock that started deliveries of its first electric vehicle in late Oct. 2021. Shares of Lucid Motors are more than 60% off their 52-week high and not at a proper buy point, so the stock is not a buy right now.
What is Nio price target?
The 28 analysts offering 12-month price forecasts for NIO Inc have a median target of 30.63, with a high estimate of 81.33 and a low estimate of 22.63.
ChargePoint launches a secondary offering a few months after closing its de-SPAC merger
Evan is a Senior Technology Analyst at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.
What happened
Shares of ChargePoint ( NYSE:CHPT) crashed today, down by 10% as of 3:30 p.m. EDT, after the company announced it is conducting a secondary offering. The news comes just a few months after ChargePoint completed its merger with a special purpose acquisition company (SPAC).
So what
The secondary offering is being launched in order for existing shareholders, primarily early venture capital (VC) funds, to sell stock in an orderly fashion. ChargePoint is not issuing any new shares and will not receive any of the proceeds from the deal; this is not a dilutive capital raise.
Now what
ChargePoint is likely attempting to mitigate the risk of a sell-off associated with the expiration of lock-up agreements, which is scheduled for Aug. 26. The company's board has the ability to unilaterally waive the lock-up restrictions and is choosing to do so in this case for all of the shares being offered for sale.
ChargePoint's network
ChargePoint is among the largest EV charging networks in North America and Europe. The company also offers DCFC. It has over 5,000 customers in the commercial and fleet market, which includes almost two-thirds of Fortune 50 customers.
Why CHPT stock is falling
Looking at the long-term picture, the fall in CHPT stock is due to a sell-off in all green economy stocks. Markets got a little too excited about the sector's prospects, which led to sky-high valuations. Now, the stocks have fallen and look much more reasonably valued than they did at the peak.
Will CHPT stock recover and go back up?
Wall Street analysts are bullish on ChargePoint stock. All seven analysts covering the stock rate it as a buy or some equivalent. Its median target price of $39 implies returns of over 35 percent over the next 12 months.
CHPT Stock and Its Short-Lived Infrastructure Rally
There’s no question the aforementioned infrastructure bill bodes well for ChargePoint. And, not just due to the money earmarked to subsidy charging stations. As InvestorPlace’s Larry Ramer wrote Apr 7, Wedbush analyst Dan Ives has made the case how the EV tax credit increases in the bill could indirectly benefit the company as well.
Plenty of Risks to Consider
The fact ChargePoint trades at a premium, even based on its fiscal year 2027 (year ending January 2027) results, isn’t the only reason for concern with this stock. There are several other factors that do damage to the bull case. One that’s been long standing is the risk of competition.
Bottom Line: Look to Other Plays for EV Exposure
If the much-touted infrastructure bill passes, it could mean a big push in the right direction for EV charging companies. But, given ChargePoint’s current valuation (even after the pullback), this positive already looks to be priced into shares.
Is ChargePoint a buy right now?
10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for ChargePoint in the last year. There are currently 2 hold ratings and 8 buy ratings for the stock.
What stocks does MarketBeat like better than ChargePoint?
Wall Street analysts have given ChargePoint a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but ChargePoint wasn't one of them.
When is ChargePoint's next earnings date?
ChargePoint is scheduled to release its next quarterly earnings announcement on Wednesday, December 1st 2021.#N#View our earnings forecast for ChargePoint.
How were ChargePoint's earnings last quarter?
ChargePoint Holdings, Inc. (NYSE:CHPT) released its quarterly earnings data on Tuesday, August, 31st. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.13). The business had revenue of $56.12 million for the quarter, compared to analyst estimates of $49.06 million.
What guidance has ChargePoint issued on next quarter's earnings?
ChargePoint issued an update on its third quarter 2022 earnings guidance on Wednesday, September, 1st. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $60 million-$65 million, compared to the consensus revenue estimate of $54.65 million.
What price target have analysts set for CHPT?
10 equities research analysts have issued twelve-month target prices for ChargePoint's stock. Their forecasts range from $24.00 to $46.00. On average, they expect ChargePoint's stock price to reach $34.00 in the next twelve months.
Who are some of ChargePoint's key competitors?
Some companies that are related to ChargePoint include BRP (DOOO), Polaris (PII), Nabtesco (NCTKF), Blink Charging (BLNK), T.J.T. (AXLE) and American Defense Systems (ADFS).#N#View all of CHPT's competitors.
