RBC Capital Reiterates Sector Perform Rating on ChargePoint Holdings Inc. (CHPT)
RBC Capital analyst Chris Dendrinos reiterated a Sector Perform rating and $3.00 price target on ChargePoint Holdings Inc. (NYSE: CHPT).
The analyst comments "Adj EBITDA topped expectations on lower opex spending, however increasing inventory levels and the cash burn are focal points. CHPT remains committed to achieving EBITDA breakeven in FY4Q25 driven by increasing revenues and improving margins as it sells through legacy higher cost inventory. However, debate remains on the pace of margin expansion and revenue growth potential given current macro demand dynamics. Reiterate Sector Perform rating."
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Shares of ChargePoint Holdings Inc. closed at $1.73 yesterday.