ChargePoint Holdings, Inc. (NYSE:CHPT) on Tuesday announced it is partnering with OBE Power to install about 2,500 EV charging ports at multifamily residences.



The initiative targets rising demand for home charging in apartments and condos, a segment that has lagged single-family housing in EV infrastructure. ChargePoint will provide its charging technology, while OBE Power will handle infrastructure and operations.



Broader market weakness may also be weighing on the stock, with the Russell 2000 down 1.16% and the S&amp;P 500 off 0.52%.



<h2>Technical Analysis</h2>



ChargePoint’s shares are currently trading at $6.27, which is 4.8% below the 20-day simple moving average (SMA) of $6.53. The stock has declined 55.25% over the past 12 months, indicating a bearish long-term trend. The 50-day SMA is at $5.83, and the stock is trading 6.6% above this level, suggesting some short-term support.



The Relative Strength Index (RSI) is currently at 52.21, indicating a neutral momentum state, meaning the stock is neither overbought nor oversold at this time. This suggests there could be potential for upward or downward movement, depending on market conditions.



ChargePoint Holdings, Inc. designs, develops, and markets networked electric vehicle charging system infrastructure and cloud-based services. The company enables charging system owners and operators to manage their networks and allows drivers to locate, reserve, and authenticate charging sessions. ChargePoint’s hardware solutions cater to various applications, including home, commercial, and fast-charging needs.



The recent partnership with OBE Power is significant because it expands ChargePoint’s reach into the multifamily housing market, a critical area for EV charging infrastructure growth. By combining their technologies, ChargePoint and OBE Power aim to make charging more accessible for EV drivers, addressing a key barrier to EV adoption.



<h2>Earnings &amp; Analyst Outlook</h2>



ChargePoint Holdings will provide its next financial update on June 3, 2026 (confirmed).



<ul>
<li>EPS Estimate: 118 cents (Up from 120 cents YoY)</li>



<li>Revenue Estimate: $95.65 million (Down from $97.64 million YoY)</li>
</ul>



Analyst Consensus &amp; Recent Actions: The stock carries a Hold rating with an average price target of $7.17. Recent analyst moves include:



<ul>
<li>UBS: Neutral (Lowers Target to $7.00) (March 16)</li>



<li>B. Riley Securities: Neutral (Lowers Target to $6.00) (March 13)</li>



<li>JP Morgan: Underweight (Lowers Target to $5.00) (March 5)</li>
</ul>



<h2>Benzinga Edge Rankings</h2>



Below is the Benzinga Edge scorecard for ChargePoint Holdings, highlighting its strengths and weaknesses compared to the broader market:



<ul>
<li>Momentum: Bullish (Score: 7.94) — Stock is outperforming the broader market.</li>
</ul>



The Verdict: ChargePoint Holdings’s Benzinga Edge signal reveals a momentum-driven story, indicating that while the stock is facing challenges, it is currently showing signs of strength relative to the market. Investors should monitor upcoming earnings and market trends for further insights into the stock’s performance.



<h2>Top ETF Exposure</h2>



<ul>
<li>SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:SIMS): 3.13% Weight</li>



<li>WisdomTree Battery Value Chain and Innovation Fund (NASDAQ:WBAT): 3.87% Weight</li>
</ul>



Significance: Because CHPT carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.



<h2>Price Action</h2>



ChargePoint shares were trading at $6.27 at the time of publication on Tuesday, according to Benzinga Pro data.



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Photo by YuniqueB via Shutterstock

CHPT

ChargePoint Holdings, Inc. announced a partnership with OBE Power to install 2,500 EV charging ports at multifamily residences, addressing the growing demand for home charging. Despite this initiative, ChargePoint's stock is down 55.25% over the past year, trading at $6.27, below its 20-day SMA. Analysts maintain a Hold rating with a price target averaging $7.17, while the stock shows neutral momentum. Upcoming earnings on June 3, 2026, will be crucial for investors.

benzinga_article

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