![]() While ChargePoint enjoys a lengthy growth runway, it still needs to grow into its valuation. The company should be able to continue investing aggressively in long-term growth, thanks to cash reserves of $610 million, as of April 30, 2021. The company is expecting revenues of $46 million to $51 million in Q2. The company has also been making moves into the European market in 2021.ĬhargePoint released its Q1 Fiscal Year 2022 earnings on June 3, revealing $40.5 million in revenue for the quarter, a 24% year-over-year growth. ![]() (See CHPT stock charts on TipRanks)įounded in 2007, ChargePoint has built one of the most comprehensive EV solutions available and has been recognized by Switchback Capital as “the world’s leading EV technology and service provider.” Its solutions target a wide range of end users, from businesses requiring complete fleet management, to individual EV drivers.ĬhargePoint now has the resources necessary to bolster its position in existing markets, as well as fund European growth.Įvolving from a regional to global company, ChargePoint is the top charging brand in North America. This helps organizations manage EV adoption while decreasing costs per mile driven, through more efficient use of EVs as part-time or full replacements for gas-powered fleets of vehicles. As a result, I am neutral on the stock.ĬhargePoint has been developing innovative EV products since 2009. However, the company is nowhere near profitability, and is priced expensively right now. ChargePoint Stock: Expensive, but Growth to ComeĬhargePoint Holdings (CHPT) is a high-growth company with competitive positioning, thanks to its large network. The Motley Fool has a disclosure policy.© Reuters. The Motley Fool has no position in any of the stocks mentioned. Howard Smith has positions in ChargePoint Holdings Inc. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. *Stock Advisor returns as of August 17, 2022 wasn't one of them! That's right - they think these 10 stocks are even better buys. ![]() They just revealed what they believe are the ten best stocks for investors to buy right now. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* When our award-winning analyst team has a stock tip, it can pay to listen. With shares down more than 30% in the last 12 months before today's spike, some investors are in agreement with Mandloi that now is the time to buy ChargePoint stock.ġ0 stocks we like better than ChargePoint Holdings Inc. Late last month, the company reported its fiscal 2023 second-quarter revenue nearly doubled for the quarterly period ended July 31 versus the prior-year period. As EV adoption grows, that network of charging stations should bring in more low-cost revenue to ChargePoint. Mandloi cited ChargePoint's more than 180,000 activated ports across the U.S., which represents a market share of more than 48%. The note issued today by Mandloi, shared by Benzinga, pointed to ChargePoint's "capital-light" model and its leadership position in the sector as reasons to believe the stock should move higher. The IRA contains incentives for consumers that purchase both new and used electric cars and trucks. That would represent a 49.2% gain over yesterday's closing price of $14.75 per share. Maheep Mandloi at Credit Suisse cited the Inflation Reduction Act (IRA) as the catalyst that could drive ChargePoint shares to $22.
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