ChargePoint Holdings Inc Ordinary Shares - Class A
CHPT: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$3.61 | Thzg | Xwvvcdt |
ChargePoint: Equity Capital Raise Is Prudent but Painful; Lowering Fair Value Estimate
We lower our fair value estimate for no-moat ChargePoint to $5 from $8 following the company's recent equity capital raise. Our lower valuation is driven largely by the share dilution and a slight increase in our discount rate. We view the shares as slightly undervalued in light of our Very High Morningstar Uncertainty Rating.