Needham analyst Chris Pierce has reiterated their neutral stance on CHPT stock, giving a Hold rating today.
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Chris Pierce’s rating is based on ChargePoint Holdings’ recent quarterly performance and market conditions. The company has shown signs of stabilization following a series of inconsistent quarters, with positive results in terms of subscription growth, cost management, and a stronger balance sheet. However, the recent performance was partly due to a one-time increase in residential demand rather than a sustainable recovery in its core commercial segment.
Additionally, the timing for a significant increase in demand remains uncertain, especially given the regulatory challenges in North America that are affecting electric vehicle adoption rates. Chris Pierce believes that ChargePoint Holdings is currently fairly valued, and any potential upside is likely to become more apparent once the company achieves consistent profitability and demonstrates a clearer path to earnings growth.
In another report released today, TR | OpenAI – 4o also upgraded the stock to a Hold with a $8.00 price target.