9/17/2023 0 Comments Charge point stock forecast![]() $2.069 billion for 2026 by the company), then we might revise down the target price. If analysts stick with their much lower forecast (i.e., $1.26 billion vs. Most investors will want to wait to see what analysts do with their out-year forecasts after Chargepoint reports its Q2 earnings. There seems to be a wide gulf between them. They show this on and of the latest slide deck presentation.Īll told, I have built two valuations here, one based on analysts’ forecasts and the other based on the company’s forecasts for 2026. That said, Chargepoint believes its number of EV charging ports and its revenue will scale directly with the penetration of electric vehicles in the market. Yahoo! Finance, which uses Refinitiv survey data, reports an average target of $35.60 for 10 analysts covering Chargepoint. For example, Tipranks reports that eight analysts have an average $35.75 price target for CHPT stock. So far, analysts have slightly higher valuations for CHPT stock. That means that my revised forecast is $31.57 per share. Therefore, the average of these two forecasts, $12.736 billion and $7.56 billion, is $10.15 billion, or 48.5% higher. After subtracting $500 million in net cash, the market value forecast is $12.736 billion. Using a 15% discount rate and 12 times multiple results in an EV forecast of $13.2 billion (i.e., $1.1o3 billion x 12). This can be seen on of its latest slide deck. That in mind, however, we should also note that the company still projects revenue to hit $2.069 billion by 2026. This means that CHPT stock is worth roughly 10.6% more, or $23.51 per share. 20, according to Yahoo! Finance. I have found in the past that this site has the most accurate market capitalization calculation. The problem is, however, that $7.56 billion is only $0.725 billion more than CHPT’s $6.835 billion market value on Aug. This means the enterprise value for CHPT stock is $7.56 billion (i.e., $8.06 billion – $500 million). 30, Chargepoint had $608.9 million in cash and $109 million in debt, for net cash of $500 million. (This is a much higher multiple than the 8 times multiple we used before.)įinally, if we subtract the company’s net cash balance, we can derive its market value. Next, we can multiply this valuation by 12 times to derive its market value of $8.06 billion. This factor is multiplied by the $1.26 billion forecast, giving CHPT a present value of $671.78 million. So, using a 15% discount rate, bringing this number to the present value from 4.5 years in the future results in a discount factor of 53.316%. As I pointed out above, analysts’ 2026 revenue forecast is now $1.26 billion. That aside, though, here is how I derived my target price. It will be interesting to see if CHPT keeps its full 2021 sales guidance of $195 to $205 million for the fiscal year ending Jan. Now, the company is due to release its Q2 earnings on Sept. ![]() ![]() 3, indicating sales of $40.5 million, up 24% from $32.8 million in Q1 2020. Chargepoint released an excellent earnings report for Q1 on Jun. ![]()
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