Stifel analyst Stephen Gengaro downgraded ChargePoint to Hold from Buy with a price target of $3, down from $10, after the company cut its Q3 guidance and announced management changes. The firm said its model changes reflect slower near-term growth rates and lower gross margins, and its revised 10-year DCF supports the revised target price. Despite the weakness in the shares during the session, Stifel is now taking a “prove-it-to-me” approach the story.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CHPT:
- C-Suite Shakeup, Analyst Revolt Sends ChargePoint (NYSE:CHPT) Plunging
- ChargePoint downgraded to Hold from Buy at R.F. Lafferty
- Airbnb downgraded, Expedia upgraded: Wall Street’s top analyst calls
- ChargePoint price target lowered to $4 from $8 at Needham
- ChargePoint downgraded to Perform from Outperform at Oppenheimer