From Nasdaq:

1. ChargePoint (NYSE:CHPT) experienced a loss of roughly 78% in the past year but could benefit from monetary policy tailwinds. The potential rise in demand for public charging due to increasing adoption of EVs makes CHPT stock a speculative idea, despite its recent performance.

2. Trading at a little over two bucks, CHPT stock is a steep discount from its initial offering price of $10, presenting a worrying blow. ChargePoint is now a sad shell of its former self due to technical setbacks and a shift in the EV charging standard.

3. Despite financial performance target misses, public charging infrastructure is essential as consumers continue to adopt EVs. Due to improper home charging practices and limited access to a garage, there is a growing need for public charging infrastructure to support the wider EV adoption.

4. The Federal Reserve’s hint at interest rate cuts could benefit CHPT stock, as consumers will be more incentivized to do things with their money, making public charging infrastructure more essential. This contributes to a potential tailwind for CHPT stock in the future.

5. CHPT stock deserves a second look as ChargePoint’s core business remains relevant, and with the possible implementation of a dovish monetary policy by the Fed, the stock could see an upside potential, despite its recent challenges.

6. According to analysts, CHPT stock has a Moderate Buy consensus rating based on six Buys, 12 Holds, and zero Sell ratings, with an average CHPT stock price target of $3.28, implying 49.3% upside potential.



Read more: Watch the Fed for Clues About ChargePoint Stock’s (NYSE:CHPT) Trajectory