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Benzinga

Shivani Kumaresan

Why ChargePoint Shares Are Surging Today

ChargePoint CHPT ChargePoint Holdings Inc NYSE North America

B.Riley analyst Christopher Souther initiated coverage of ChargePoint Holdings Inc (NYSE:CHPT) with a Buy rating and $20 price target, implying a 41% upside.
The analyst is optimistic about ChargePoint’s market share, brand, and growth strategy.
Souther noted the company holds more than 70% market share in networked Level 2 charging in North America and 5,000 commercial and fleet customers worldwide.
The analyst added that ChargePoint is in a healthy cash position for investments.
Price Action: CHPT shares are trading higher by 12.96% at $14.17 on the last check Friday.
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