TECH - Stay on Sidelines - ChargePoint Analysts Say Despite Positive Q1 Await More Proof of Growth | Benzinga
Needham analyst Chris Pierce reiterated ChargePoint Holdings, Inc (NYSE:CHPT) with a Buy rating and a $3 price target.
Pierce said ChargePoint delivered fiscal first-quarter 2025 revenue above the midpoint of guidance, finding its footing vs. internal expectations for the first time in multiple quarters, a positive turnaround.
He expects the consensus second-quarter estimate to come down based on company guidance.
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Still, the likelihood of a negative surprise is materially lower, given first-quarter execution, despite commentary of deal slippage, which aligns with ChargePoint’s forecasts.
Given past results, the analyst noted a stabilization in the business vs expectations and the lower likelihood of a negative top-line surprise as a net positive.
ChargePoint cited revenue and adjusted EBITDA coming in ahead of internal plans in the quarter, increasing Pierce’s confidence in the company achieving what the consensus estimate implies is a stretch goal.
Despite a lower revenue assumption, the analyst ...