How to Buy Chargepoint Holdings Stock
Chargepoint Holdings Inc
Switchback Energy Acquisition Corporation does not have significant operations. It intends to identify and acquire companies through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combinations.
Chargepoint Holdings stock last closed at $1.38, down 1.43% from the previous day, and has decreased 84.75% in one year. It has underperformed other stocks in the Specialty Retail industry by 0.94 percentage points. Chargepoint Holdings stock is currently +2.99% from its 52-week low of $1.34, and -86.34% from its 52-week high of $10.10.
At the moment, there are 423.36M CHPT shares outstanding. The market cap of CHPT is $584.24M. In the past 24 hours, 9.91M CHPT shares were traded.
How to Buy Chargepoint Holdings Stock
Wondering how to invest in Chargepoint Holdings stock? Here's how.
- Decide where to buy Chargepoint Holdings stock: You need to pick an online brokerage, but don't worry - we've analyzed dozens of stock brokerages and apps to help you choose where to buy Chargepoint Holdings stock.
- Sign up for a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've identified.
- Deposit money your brokerage account: Select your payment method and add your info.
- Research Chargepoint Holdings stock: The Chargepoint Holdings ticker symbol is CHPT. Is Chargepoint Holdings stock a good investment? Should you buy shares of CHPT? How do CHPT's underlying business fundamentals look? Do top analysts think Chargepoint Holdings is a good buy? Why has CHPT's stock price moved recently? (Hint: Our stock research tools can help you evaluate if CHPT is a good stock to buy).
- Place your CHPT trade: Decide if you will purchase CHPT shares at the current market price or use a limit order to buy CHPT stock at a particular price.
- Watch your investment in CHPT: Create a watchlist to key updates about your investment in Chargepoint Holdings stock.
Step 1: Decide where to buy Chargepoint Holdings stock
You need a brokerage account to access the NYSE market and buy CHPT stock.
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Open eToro AccountStep 2: Sign up for a brokerage account
Now that you've chosen the right brokerage, you need to fill out some personal information so you can buy CHPT today.
How to Create a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Provide your personal details to open a new brokerage account.
- Submit your information by pressing the "Create Account" button. Get started with eToro today
Step 3: Deposit money your brokerage account
Now that you've opened your account on the stock trading app, you can securely and quickly fund your account:
Watch the walkthrough below to see the process of depositing funds into your new brokerage account.
Step 4: Research Chargepoint Holdings stock
Once you have chosen the best place to buy Chargepoint Holdings stock, it's absolutely critical to evaluate their stock prior to investing, so you truly wrap your head around the risk and upside.
Chargepoint Holdings Numbers
CHPT Zen Score
WallStreetZen was created to help everyday investors do more accurate fundamental analysis in less time.
You can see all of the due diligence checks on CHPT's stock page.
Is CHPT stock undervalued or overvalued?
Analysts use a variety of different financial metrics, analyses, models, and charts to gauge CHPT's intrinsic value.
Using relative valuations ratios:
- CHPT may be undervalued based on its P/B ratio of 1.78x, relative to Specialty Retail industry P/B ratio of 10.81x
You can do additional valuation analysis on CHPT's stock here.
CHPT Financials at a glance
Positive Financial Indicators:
- There are more short-term assets than short-term liabilities on the CHPT balance sheet.
- There are more short-term assets than long-term liabilities on the CHPT balance sheet.
- CHPT has cash burn of 348365000. It has enough cash and short-term investments to cover this for at least one year.
- Total CHPT debt is lower than 5 years ago, relative to shareholder equity.
Negative Financial Indicators:
- CHPT has a relatively high debt to equity ratio of 2.37.
- CHPT profit margin has gone down from -73.7% to -90.3% in the past year.
- CHPT has $357.81M in cash and short term investments. This is not enough to cover its annual cash burn of $348.37M.
Is it a good time to buy CHPT stock, according to analysts?
Out of 11 Wall Street analysts who give recommendations on CHPT, the consensus analyst rating on Chargepoint Holdings is a Buy
It's important to keep in mind that analyst forecasts are not stock recommendations, nor are they financial advice.
Latest CHPT Analyst Upgrades/Downgrades
Chris Dendrinos, a bottom 3% analyst from RBC Capital downgrades CHPT to a hold rating and lowers their CHPT price target from $3.50 to $3.00, on Mar 6, 2024.
Itay Michaeli, a bottom 1% analyst from Citigroup maintains CHPT with a hold rating and lowers their CHPT price target from $8.25 to $2.40, on Dec 8, 2023.
Christopher Souther, a bottom 5% analyst from B. Riley Securities downgrades CHPT to a hold rating and announces their CHPT price target of $2.50, on Dec 7, 2023.
B. Riley Securities's Christopher Souther downgraded their rating on Chargepoint Holdings (NYSE: CHPT) from Strong Buy to Hold on 2023/12/07. The analyst also announced a $2.5 price target.
Souther pointed out that Chargepoint Holdings's management did not provide Q4 2024 financial guidance when it released its Q3 2024 earnings report on 2023/12/06.
Management remained mum on Q4 because of "the challenges around near-term visibility from both commercial customers, who appear to be taking a step back from discretionary spending, and fleet customers, who are impacted by delays in vehicle deliveries," the analyst told investors.
Discussing their firm's double downgrade from Strong Buy to Hold, Souther said that B. Riley Securities does not see a number of near-term catalysts sufficient to stay positive on the stock, "expecting that it will take a few quarters before visibility on growth returns and the new management team can build credibility in its plans and execution of spending reduction."
Earnings Report
For Q3 2024, Chargepoint Holdings reported:
- Loss per share of $0.43, which missed against Q3 2023's $(0.25) by 72%.
- Revenue of $110.3M, down 12% from Q3 2023's $125.3M.
- Networked charging systems revenue of $73.9M, down 24% from Q3 2023's $97.6M.
- Gross margin of negative 18%, reflecting the $42M impact of an inventory impairment charge.
- Pre-tax net loss of $106.3M, compared to Q3 2023's $56.4M, also reflecting the $42M inventory impairment charge.
- Adjusted EBITDA loss of $97.4M, also reflecting the inventory impairment charge, compared to Q3 2023's EBITDA loss of $51.5M.
- Cash, cash equivalents and restricted cash on the balance sheet at quarter-end of $397.4M, including $233.1M of at-the-market share offering gross proceeds during the quarter.
- Its $150M revolving credit facility remains undrawn and the company has no debt maturities until 2028.
Commenting generally and with respect to guidance, new President & CEO Rick Wilmer commented: “ChargePoint’s Q3 execution came up far short of its goals in the face of continued challenging macroeconomic conditions and execution challenges.
“Although the quarter overall did not meet expectations, we did demonstrate how we continue to empower the entire EV ecosystem, across hardware and software, and we fortified our balance sheet, which leaves us well capitalized to execute on our strategy.
"We remain firmly committed to delivering positive non-GAAP adjusted EBITDA in Q4 2025 (i.e., Q4 in calendar year 2024).”
Wesley Brooks, a top 33% analyst from HSBC initiates coverage on CHPT with a hold rating and announces their CHPT price target of $2.00, on Dec 4, 2023.
Robert Jamieson, a bottom 18% analyst from UBS downgrades CHPT to a hold rating and lowers their CHPT price target from $9.00 to $2.25, on Nov 28, 2023.
You can dig deeper into what analysts are projecting on the Chargepoint Holdings stock forecast page.
CHPT Technicals
How are CHPT Revenues/Earnings doing?
Last year, CHPT revenue was $506.64M. Over the past 5 year, CHPT's revenue has increased by 28.52% per year. This was faster than the Specialty Retail industry average of 11.29%.
Find out more about CHPT's earnings and revenue performance here.
Are CHPT executives and large shareholders buying or selling the stock?
In the last 12 months, insiders at CHPT have sold more shares than they have bought.
Rebecca Chavez, CLO and Corp Secretary of CHPT, was the latest CHPT insider to sell. They sold $9,028.36 worth of CHPT shares on Mar 21, 2024.
Learn more about who owns CHPT stock here.
Does CHPT stock generate passive income?
No, Chargepoint Holdings doesn't provide an income stream by paying out dividends.
Get analysis from other investors
One of the primary reasons eToro is our favorite brokerage is because of its social trading community.
Click below to learn what other community members have to say.
Step 5: Place your CHPT trade
There are two main order types:
- Market order: A market order is an order to buy or sell a stock at the best available price.
Market orders are generally the best for newer investors. - Limit order: A limit order enables you to buy or sell a stock at a specific price (or better).
If you want to be certain you're buying or selling at a specific price limit, place a limit order.
Press the Open Trade button and eToro will execute your order.
If you want additional info about investing in stocks on eToro, click the helpful video below:
Step 6: Watch your investment in CHPT
Now that you own some CHPT stock, you'll want to stay up-to-date on your new investment.
Put CHPT on a watchlist to keep track of your CHPT stock.
CHPT Feed
How to Buy Stock in Chargepoint Holdings
To reiterate, here are the 6 steps for buying Chargepoint Holdings stock:
- Decide where to buy Chargepoint Holdings stock
- Sign up for a brokerage account
- Deposit money your brokerage account
- Research Chargepoint Holdings stock
- Place your CHPT trade
- Watch your investment in CHPT
If you are looking for a brokerage account, eToro is our favorite venue.
Get Started with eToro TodayIf you want to get notifications regarding your investment in Chargepoint Holdings, click below.
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