ChargePoint Q2 revenue beats estimates, driven by networked charging systems strength
CHPT•Analyst view
The current average analyst rating on the shares is hold, with no strong buy or buy ratings, 7 hold ratings, and no sell or strong sell ratings.
The average consensus recommendation for the electrical components and equipment peer group is buy. Wall Street's median 12-month price target for ChargePoint Holdings Inc. is $7.50, about 41.5% above its September 1 closing price of $5.30.
Drivers of the quarter
ChargePoint said the revenue growth was driven by a 25% year-over-year increase in networked charging systems sales.
The company said gross margin benefited by 4 percentage points from tariff refunds. It also said a decline in operating expenses contributed to the improved net loss.
Outlook and business updates
ChargePoint expects third-quarter revenue to be between $105 million and $115 million.
The company said it remains focused on driving profitable growth through innovation and operational excellence.
