If you live in an apartment and drive an electric vehicle, you know the struggle: finding a place to charge overnight can be a headache. ChargePoint Holdings, Inc. (ChargePoint (CHPT)) is trying to fix that. On Tuesday, the company announced a partnership with OBE Power to install about 2,500 EV charging ports at multifamily residences — apartments, condos, that sort of thing.
The idea is simple: as more people switch to EVs, they need a place to plug in at home, not just at single-family houses. ChargePoint will provide the charging technology, while OBE Power handles the infrastructure and operations. It's a smart move into a segment that has lagged behind single-family home charging, and it could help remove a key barrier to EV adoption.
But the stock itself? It's been a rough ride. ChargePoint shares are trading at $6.27, down about 55% over the past 12 months. That's a brutal decline, and it reflects the broader challenges in the EV charging space — competition, high capital costs, and a still-evolving market. Today, broader market weakness isn't helping either: the Russell 2000 is down 1.16% and the S&P 500 is off 0.52%.
Technical Check: Not Great, But Not Terrible
Let's look at the numbers. The stock is currently 4.8% below its 20-day moving average of $6.53, which isn't great. But it's trading 6.6% above its 50-day moving average of $5.83, suggesting some short-term support. The Relative Strength Index (RSI) sits at 52.21 — neutral territory. That means the stock isn't overbought or oversold; it could go either way depending on what happens next.
For context, ChargePoint designs and markets networked EV charging infrastructure and cloud-based services. Its hardware covers home, commercial, and fast-charging needs, and its software lets charging station owners manage their networks while drivers find, reserve, and authenticate charging sessions. The OBE Power deal is a good example of how they're trying to expand their reach.
Earnings and Analyst Sentiment
ChargePoint's next financial update is scheduled for June 3, 2026. Here's what Wall Street is expecting:
- EPS Estimate: 118 cents (up from 120 cents a year ago — yes, that's a decline)
- Revenue Estimate: $95.65 million (down from $97.64 million year-over-year)
Analysts are cautious. The stock carries a Hold rating with an average price target of $7.17. Recent moves include:
- UBS: Neutral, target lowered to $7.00 (March 16)
- B. Riley Securities: Neutral, target lowered to $6.00 (March 13)
- JP Morgan: Underweight, target lowered to $5.00 (March 5)
So the analyst community is not exactly cheering. But there's a glimmer of optimism on the momentum front.
Momentum Signal: Bullish
According to MarketDash's Edge scorecard, ChargePoint's momentum score is 7.94 — classified as Bullish. That means the stock is currently outperforming the broader market on a momentum basis. The verdict? It's a momentum-driven story. The stock faces long-term challenges, but right now it's showing some relative strength. Investors should keep an eye on the upcoming earnings and broader market trends.
ETF Exposure: Why It Matters
ChargePoint also has meaningful weight in a couple of ETFs, which means fund flows can move the stock. The key ones:
- SPDR S&P Kensho Intelligent Structures ETF (SIMS): 3.13% weight
- WisdomTree Battery Value Chain and Innovation Fund (WBAT): 3.87% weight
Because CHPT carries significant weight in these funds, any big inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. It's something to watch.
Price Action
As of Tuesday's publication, ChargePoint shares were trading at $6.27. The stock has a lot to prove, but the apartment charging deal is a step in the right direction. Whether it's enough to turn the tide? That's the question.
