Factors for Chargepoint trade
built an extensive EV charging network across North America and is now
expanding in Europe.
on developing software-led charging solutions which it provides to customers to
provide charging wherever they may need it. It complements its offering with
robust cloud and subscription-based software services.
join its charging network and can seamlessly scale their EV adoption anytime.
With this distinct growth strategy, ChargePoint has rapidly expanded its reach
and effectively secured its position as the leading end-to-end solution
provider for EV charging, leading to its place as the first publicly traded
charging company with a global footprint.
Frost & Sullivan.....
Sullivan, named ChargePoint the winner of its Best Practices Market Leadership
award in Europe's EV charging market on Monday.
Sullivan was impressed that ChargePoint has carved out the highest market share
on that continent, out of the more than 18 charging companies it surveyed.
said in a press release touting its award that Frost & Sullivan believed it
"offers a robust portfolio of
hardware, software, and support services catering to commercial, fleet, and
residential EV customers."
is indisputably a major player in these relatively early days of EV charging
networks. It has over 163,000 charging points that are operational; of these,
45,000 are in Europe, an important market for the company.
"ChargePoint's brand strength,
product differentiation, customer ownership experience, and successful growth
strategy cement its position as a market leader and will continue to strengthen
its brand and presence in the EV charging space," explained Prajyot Sathe, Research
Manager. With its strong overall performance, ChargePoint earns the 2021 Frost
& Sullivan Market Leadership Award.
JPMorgan’s Viewpoint .....
California-based ChargePoint just got a big jolt of electricity after JPMorgan
Chase (NYSE:JPM) upgraded the company’s stock to “outperform” from “neutral,”
along with a $20 price target, and his $20 price target shows his confidence in
a 40% one-year upside potential.
shot up 10% on the day that JPMorgan made the upgrade, noting in its assessment
that ChargePoint has a huge growth opportunity ahead of it and that investors
are overly concerned about profits in the near-term for the company that
operates the biggest network of electric vehicle battery charging stations in
“We think investors may be too
pessimistic on ChargePoint’s expenses and path to profitability,” wrote JPMorgan analyst Bill
Bill Peterson sees several reasons for investors to assume a turnaround for
ChargePoint, and writes that the current pullback equals an opportunity.
“We have developed more confidence
around the ChargePoint story. Given the stock’s recent pullback, we see a good
opportunity for investors... Specifically, the company is well-positioned to
benefit from growth in all customer verticals in the US, and increasingly so in
Europe…. we think investors may be too pessimistic on ChargePoint’s expenses
and path to profitability; for us, the added investments in its go-to market
efforts are key to seed the company’s target markets. Thus, the reward should
be strong, sustainable growth with an expanding customer base,” Peterson wrote.
"We anticipate ChargePoint
driving significant growth over the next 5-10 years, with revenues outpacing
the growth range of EVs in the US and Europe driven by new opportunities in
commercial and fleet operations," stated Peterson.
that the company's "software and
services business provides ChargePoint an attractive recurring revenue
expected to report its next quarterly earnings results on Tuesday, March 1st.
analysts' forecasts, the consensus EPS forecast for the quarter is $-0.19.
expect ChargePoint to post sales of $76.23 million for the current fiscal
quarter. Eight analysts have provided estimates for ChargePoint’s earnings. The
lowest sales estimate is $73.30 million and the highest is $78.48 million. The
expect that ChargePoint will report full year sales of $237.91 million for the
current fiscal year, with estimates ranging from $235.00 million to $240.15
million. For the next year, analysts forecast that the business will report
sales of $379.73 million, with estimates ranging from $350.70 million to