Is CHPT Stock a Buy After Crushing Guidance? 3 Analysts Weigh In on ChargePoint.

ChargePoint (NYSE:CHPT) stock is rising higher on Thursday following the release of its earnings report for its fiscal fourth quarter of 2022.

EV stocks: A close-up shot of a ChargePoint (CHPT) charging station.
Source: YuniqueB / Shutterstock.com

This comes after the company reported adjusted diluted earnings per share of -23 cents and revenue of $80.68 million. For comparison, Wall Street was looking for adjusted EPS of -16 cents alongside revenue of $76.13 million.

While those results are a bit mixed, investors are reacting well to the company’s guidance for the fiscal full year of 2023. The electric vehicle (EV) charging company is expecting revenue for the year to range from $450 million to $500 million. That’s looking good next to analysts’ estimate of $378.74 million.

That may be good enough for traders, but let’s check out what experts have to say about CHPT stock following its Q4 earnings report below!

Is CHPT Stock a Buy After Earnings?

  • Jefferies kicks off today’s coverage as it maintains a “buy” rating but lowers its price target to $28 per share. Still, that represents a potential 99% upside compared to the stock’s closing price on Wednesday.
  • Citigroup is next as the firm holds onto its “neutral” rating but increases its price prediction to $17 per share. For the record, that’s a possible 20.8% increase for the stock next to yesterday’s closing price.
  • Needham closes out our recent analyst coverage with a buy rating and a $24 price target. That has it expecting the company’s shares to increase 70.6% from its previous closing price.

CHPT stock is up 4% as of Thursday morning but is still down 26.5% since the start of the year.

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More Thursday Earnings News

On the date of publication, William White 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 InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/03/is-chpt-stock-a-buy-after-crushing-guidance-3-analysts-weigh-in-on-chargepoint/.

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