CHPT - ChargePoint Stock Has 50% Upside According to 1 Wall Street Analyst
2024-03-11 01:17:00 ET
ChargePoint 's (NYSE: CHPT) sales and margins have dropped off in recent quarters, and the electric vehicle (EV) charging company even announced layoffs recently to save money. ChargePoint disappointed the market yet again with its just-released fourth-quarter numbers, compelling several analysts to dial down their expectations. Yet, some still see a huge upside in the stock. RBC Capital analyst Chris Dendrinos is one of them.
While the analyst cut ChargePoint stock's price target to $3 per share from $3.50 on March 6 because of macroeconomic challenges, that still represents a solid 50% upside from the stock's previous day's closing price.
Does a potential 50% upside mean ChargePoint stock is a no-brainer buy now?
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ChargePoint Stock Has 50% Upside, According to 1 Wall Street Analyst