![]() ![]() On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. With time, I’d like to see the beaten down EV charging stock race back to $20. In addition, earnings and guidance have been impressive. Plus, remember that global leaders want millions of EVs on the roads. In fact, I’d buy it, forget about it, and check back on it in about a year.Īgain, once the EV boom really gets rolling and we see charging stations pop up, shares of CHPT stock could accelerate to higher highs. ChargePoint is well positioned to benefit from growth in all customer verticals in the U.S., and increasingly so in Europe, assuming resumed installations at work sites.”įor all of those reasons, I’d use weakness as an opportunity with CHPT stock. The 20 analysts offering 12-month price forecasts for ChargePoint Holdings Inc have a median target of 9.50, with a high estimate of 17.00 and a low estimate of 5.00. As noted by, “The analyst sees a good opportunity for investors following the stock’s recent pullback. Citi analysts also raised their price target to $17 from $15.Īlso, in late January, JPMorgan Chase (NYSE: JPM) upgraded the stock to overweight from neutral with a price target of $20 a share. “We had numerous successes in our first year as a publicly traded company, including a 65 percent year over year increase in annual revenue, two strategic acquisitions, expansion of our activated port count by over 60 percent.” Analysts Love CHPT Stock, TooĬowen analysts just raised their price target on CHPT to $27 from $24. ![]() “ChargePoint delivered another outstanding quarter advancing our technology leadership in our commercial, fleet and residential verticals,” said Chief Executive Officer Pasquale Romano in the company’s press release. That is also above expectations for $418 million in sales. Not only was that better than analyst expectations for $75.9 million, it was also better than company expectations for $75.9 million.įor fiscal year 2023, CHPT expects for sales to come in between $450 million and $500 million. The company did post a 17-cent per share loss, missing estimates for a loss of 16 cents. In short, the EV boom is only heating up and is showing no signs of deceleration. In Europe, sales were up about 70% to 2.3 million. ”Ĭhina sold about 3.4 million EVs in 2021. In fact, according to Green Car Reports’ Stephen Edelstein, “Automakers sold 6.6 million plug-in vehicles in 2021, more than double the 3 million sold in 2020, and more than triple the 2.2 million sold in 2019, according to the. Remember, global leaders want millions of EVs on the roads yesterday.Įven better, global EV sales more than doubled in 2021, year-over-year. If it can break above resistance, I’d like to see CHPT test $20, near-term. Once the EV boom really gets rolling and we see charging stations pop up, shares of CHPT stock could accelerate to higher highs. While its chart hasn’t been anything to write home about, give it time.
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