Day: December 8, 2021

Even at the Lows, Insider Selling Remains Prevalent at ChargePoint (NYSE: CHPT)

This article first appeared on Simply Wall St News.

Major infrastructure changes are inevitable with the automotive industry ramping up EV vehicle production. This trend shift made way for companies like ChargePoint Holdings, Inc. (NYSE: CHPT), positioning them as one of the US leaders in this growing market. Yet, the stock has not done well in 2021, losing almost half its value.

View our latest analysis for ChargePoint Holdings

Q3 Earnings results

For Q4, the company expects revenue of US$73-78m, while the full-year revenue outlook is set at US$235-240m (vs. the previous US$225-235m).

The company noted that the subscription revenue rose 24% in the quarter, while the networked charging systems brought 73% of total revenue (US$48m). The current cash balance stands at US$366m after the acquisition of the leading commercial vehicle management provider, ViriCiti.

Although North America remains the core market, the company has been growing

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