What's Going On With ChargePoint Stock?

ChargePoint Holdings Inc CHPT stock is trending Thursday following the company's third-quarter financial results. Multiple analysts also weighed in on the stock following the print.

• Q3 Revenue: $110.3 million missed estimates of $122.408 million
• Q3 EPS: 43 cent loss versus 25 cent loss in the prior year's quarter

Total revenues were down 12% year-over-year. Networked charging systems revenue came in at $73.9 million, down 24%. Subscription revenue was $30.6 million, up 41%. 

Gross margin in the third quarter was negative 22%, down from 18% year-over-year. The company ended the quarter with $397.4 million in cash, equivalents and restricted cash. ChargePoint reaffirmed expectations for positive adjusted EBITDA in the fourth quarter of fiscal 2025. 

"ChargePoint's third quarter execution came up far short of its goals in the face of continued challenging macroeconomic conditions and execution challenges," said Rick Wilmer, president and CEO of ChargePoint.

"Though the quarter overall did not meet expectations, we did demonstrate how we continue to empower the entire EV ecosystem, across hardware and software, and we fortified our balance sheet, which leaves us well capitalized to execute on our strategy."

Following the company's quarterly results, Needham analyst Chris Pierce reiterated ChargePoint with a Buy rating and a price target of $4. B. Riley Securities analyst Christopher Souther downgraded ChargePoint from Buy to Neutral and set a price target of $2.50.

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CHPT Price Action: ChargePoint shares are somewhat muted, likely because the company reported preliminary results in mid-November. The stock was down 0.98% at $2.02 at the time of publication, according to Benzinga Pro.

Photo: courtesy of ChargePoint.