Shares of ChargePoint (NYSE:CHPT) sunk 11% in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2024. Earnings per share came in at -$0.35, which missed analysts’ consensus estimate of -$0.13 per share.
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Sales increased by 39% year-over-year, with revenue hitting $150.49 million. This also missed analysts’ expectations by $2.3 million.
Looking forward, management now expects revenue for Q3 2024 to be in the range of $150 million to $165 million. Furthermore, the firm anticipates becoming adjusted EBITDA positive by its fourth quarter. On a yearly basis, ChargePoint expects revenue to fall between $605 million and $630 million.
What is the Target Price for CHPT Stock?
Overall, Wall Street has a consensus price target of $13.20 on CHPT stock, implying 87% upside potential, as indicated by the graphic above.