ChargePoint Stock Forecast 2023: Latest Price

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ChargePoint Holdings, Inc. (CHPT) is a leading provider of electric vehicle (EV) charging solutions. The company operates the world’s largest EV charging network, with over 160,000 charging stations in over 40 countries. ChargePoint’s network is used by over 1 million EV drivers every day. ChargePoint Holdings, Inc. (CHPT) went public on the New York Stock Exchange (NYSE) on March 2, 2021, under the ticker symbol “CHPT.”

Chargepoint (CHPT) Stock Forecast 2023: Latest News

• Michael Linse, the Director of ChargePoint, has recently sold 2,347,293 shares of ChargePoint for a total of $13,453,075. SEC filing
• CFO Rex S. Jackson of ChargePoint Holdings, Inc. sold 556,255 shares of the company’s stock recently, totaling $3,248,529.20. After the sale, he holds 1,990,096 shares valued at $11,622,160. The transaction was disclosed in an SEC filing.
• ChargePoint is gearing up for a presence at the upcoming Greenbuild event on September 27–28, inviting attendees to visit booth 1308 and explore their innovative EV charging solutions.

Chargepoint Stock Forecasts

Chargepoint (CHPT) Stock Forecast 2023: Analysts

Chargepoint Target Price	$12.45
Evercore ISI Group	$17
RBC Capital	$9
Citigroup	$8.25
RF Lafferty	$17
TD Cowen	$11

Chargepoint Stock Forecast 2023, 2024 and 2025

• Chargepoint Price Prediction 2023 is $8.41
• Chargepoint Price Prediction 2024 is $10.3
• Chargepoint Price Prediction 2025 is $13.6

Chargepoint Stock Forecast 2023: Performance in the Last 12 Months

• Last 6 Months: -34.4%
• Last 12 Months: -65.8%
• Year to Date (2023): -37.4%

Chargepoint (CHPT) Stock Forecast 2023: Technical Analysis

The overall technical analysis for Chargepoint stock suggests a strong sell signal.

The Relative Strength Index stands at 34.202, signaling a sell condition and implying potential oversold territory. Both the Stochastic Oscillator at 35.249 and the Stochastic RSI at 41.255 confirm the bearish sentiment, indicating downward momentum. The Moving Average Convergence Divergence at -0.53 reinforces the sell signal, further supporting the notion of a potential downward trend.

Additionally, the Average True Range (ATR) is relatively high at 0.4743, indicating elevated volatility. Also looking at moving averages, the majority of them convey a sell signal, with only MA5 and MA10 offering minor buy signals.

Chargepoint Quarterly Financial Results

Second Quarter, 2023

ChargePoint Holdings, Inc. (NYSE:CHPT) reported its second quarter fiscal year 2024 results on September 8, 2023. The company reported a net loss of $125.3 million, or $0.35 per share, compared to a net loss of $92.7 million, or $0.27 per share, in the same quarter of the prior year. Revenue was $150.5 million, up 39% from $108.3 million in the prior year’s same quarter.

The company’s results were impacted by an inventory impairment charge of $28 million. Excluding the impairment charge, non-GAAP net loss was $86.1 million, or $0.24 per share. Non-GAAP adjusted EBITDA loss was $81.2 million, compared to $56.2 million in the prior year’s same quarter.

ChargePoint’s CEO, Pasquale Romano, said in a statement that the company is “making progress in executing our growth strategy.” He noted that the company added 100,000 new charging ports in the second quarter, bringing its total to over 200,000. Romano also said that ChargePoint is expanding its business into new markets, such as Europe and Asia.

Overall, ChargePoint’s second quarter results were mixed. The company’s revenue growth was strong, but its net loss widened due to the inventory impairment charge.

Chargepoint’s Last 4 Quarters Summary

(USD)	Jul 2023	Apr 2023	Dec 2022	Oct 2022
Revenue	150M	130M	153M	125M
Net income	-125M	-79M	-78.7M	-84.5M
Diluted EPS	–	–	-0.23	-0.25
Net profit margin	-83.23%	-61.05%	-51.47%	-67.4%
Operating income	-123M	-80M	-78M	-83M
Net change in cash	-5M	19M	106M	600k
Cost of revenue	149M	99.5M	120M	103M

Chargepoint Price Prediction Today

Chargepoint (CHPT) Stock Forecast 2023: Will Chargepoint reach $10 in 2023?

No one can predict with certainty if ChargePoint will hit $10 in 2023. A stock price can be impacted by a wide range of factors due to the volatility of the stock market. There are other variables, though, that point to ChargePoint reaching $10 in 2023.

The EV market is expanding quickly, to start. By 2030, the International Energy Agency (IEA) predicts that there will be 145 million electric vehicles on the road worldwide. ChargePoint is the top supplier of EV charging solutions, and this expansion will increase the demand for charging stations.

Second, ChargePoint is introducing new markets to its operations. Currently, the corporation operates in the Americas, Canada, Europe, and Asia. throughout the foreseeable future, the business intends to grow throughout Africa and Latin America.

Thirdly, ChargePoint is funding cutting-edge technology. New charging methods, like wireless charging and ultra-fast charging, are being developed by the business. These modern innovations might aid ChargePoint in standing out from its rivals.

ChargePoint is ideally situated to gain from the expansion of the EV sector overall. The business does, however, face considerable concerns, such as its high debt levels. If ChargePoint can control these risks, the stock price may hit $10 in 2023.

Chargepoint Stock Forecast 2023: How High Will Chargepoint Go in 2023?

The future price of Chargepoint stock is difficult to predict, as it depends on a number of factors, including the company’s financial performance, the overall market conditions, and any new developments in the electric vehicle (EV) charging industry.

According to the analysts’ average price target, Chargepoint stock is expected to reach $12.6 in the next 12 months. However, it is important to note that price targets are just estimates, and the actual price of a stock can vary significantly.

The future price of Chargepoint stock is difficult to predict, as it depends on a number of factors, including the company’s financial performance, the overall market conditions, and any new developments in the electric vehicle (EV) charging industry.

According to the analysts’ average price target, Chargepoint stock is expected to reach $36.30 in the next 12 months, which represents an increase of 23.5% from its current price of $29.30. However, it is important to note that price targets are just estimates, and the actual price of a stock can vary significantly.

Some of the factors that could affect Chargepoint stock price:

• Financial performance of the Company
• Developments in the EV charging industry
• Market conditions
• Demand for EV charging stations

Overall, the outlook for Chargepoint stock in the next 12 months is positive. The company is well-positioned to benefit from the growth of the EV charging industry. However, there are also some risks that investors should consider.

Chargepoint (CHPT) Stock Forecast 2023: Is Chargepoint a good stock to buy?

Here are some of the reasons why you might want to consider buying Chargepoint stock:

• Leading position in the EV charging market: Chargepoint is the leading provider of EV charging stations in the United States. The company has over 160,000 charging stations in operation and has a market share of over 40%.
• Growth potential: The EV charging market is expected to grow rapidly in the coming years. As the number of EVs on the road increases, the demand for EV charging stations is also expected to grow.
• Partnerships with major automakers: Chargepoint has partnerships with major automakers, such as Ford, General Motors, and Tesla. These partnerships give Chargepoint access to a large customer base and help to ensure that its charging stations are compatible with the latest EVs.
• Technology leadership: Chargepoint is a technology leader in the EV charging market. The company has developed a number of innovative technologies, such as its cloud-based management system, which allows businesses and governments to manage their charging networks.
• Strong financial performance: Chargepoint has been growing its revenue and earnings at a rapid pace. In the most recent quarter, the company’s revenue grew by 85% year-over-year.

Chargepoint Stock Forecast 2023: Reasons Not to Buy Chargepoint Stock

Here are some of the reasons why you might not want to buy Chargepoint stock:

• Declining demand for EVs: The demand for EVs has been declining in recent months, as a result of chip shortages and rising gas prices. This could hurt Chargepoint’s business, as the demand for EV charging stations is also expected to decline.
• Increased competition: The EV charging market is becoming increasingly competitive. Chargepoint faces competition from other companies, such as EVgo and Blink Charging. This could make it difficult for Chargepoint to maintain its market share.
• Regulation: The EV charging market is subject to government regulation. Changes in regulations could impact Chargepoint’s business. For example, if the government were to impose a fee on EV charging, it could hurt Chargepoint’s profits.
• Technology risk: Chargepoint is a technology company, and its business is dependent on its technology. If Chargepoint’s technology is not successful, it could hurt the company’s business. For example, if Chargepoint’s charging stations are not reliable, it could hurt the company’s reputation.

Overall, Chargepoint is a well-positioned company to benefit from the growth of the EV charging market. However, there are also some risks that investors should consider before investing in the stock.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.