Oppenheimer analyst Colin Rusch downgraded ChargePoint to Perform from Outperform without a price target. ChargePoint missed Q3 revenue guidance by 43% at the midpoint and with the departure of the CEO and CFO, the firm sees the company going through a painful transition as it continues to target EBITDA break-even by the end of FY25, the analyst tells investors in a research note. The firm would not be surprised by deeper cuts in OpEx given the potential for revenue growth to be slower than previously expected.
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