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ChargePoint Holdings, Inc (CHPT)

ChargePoint Holdings, Inc (CHPT)

ChargePoint Holdings, Inc. is a provider of E.V. charging networks and solutions in the U.S. The company’s portfolio includes hardware, software, and services for commercial, fleet, and residential customers.

ChargePoint Holdings, Inc. began the month of June with a Buy rating and a $40 price target. Analyst David Kelley calls the company a leader in the U.S. charging infrastructure sector and expects a 57% rise in sales CAGR.

The company also announced its partnership with Mercedes-Benz this June, resulting in positive responses. In the fiscal first quarter of 2022, ChargePoint Holdings, Inc. had an EPS of -$0.18, missing estimates by -$0.06, while its revenue was $40.51 million, beating estimates by $3.28 million. ChargePoint Holdings, Inc. has a gross profit margin of 22.31% and has gained 220.52% in the past year.

Alger, an investment management firm, mentioned ChargePoint Holdings, Inc. (NYSE: CHPT) in its first-quarter 2021 investor letter. The newsletter stated that Charge Point could potentially serve as a bellwether company of the fast-growing E.V. category by investing in the longer term. Alger believes it is an attractive way to gain exposure to E.V. adoption without betting on whether a particular E.V. brand will win in the marketplace. Additionally, E.V.s are a massive end market.

ChargePoint Holdings, Inc. is a stock to consider for your portfolio.

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Gordon Fox is the editor of investinglate.com and writes about Investments, Savings, and how to make the most of your money