ChargePoint stumbles on Q1 revenue miss

EV charging network operator ChargePoint Holdings' CHPT.N shares dip 15.31% to 75 cents premarket

Co reported quarterly rev. of $97.64 million for the quarter ended April 30, down 8.8% from a year ago and below analysts’ expectations of $100.53 million

"While we give ChargePoint credit for improvement over the next several quarters, profitability this year feels ambitious in the current policy and economic environment, which has challenged other hardware peers in the space" - J.P.Morgan

One of 15 brokerages rates the stock "buy", 12 "hold" and 2 "sell"; their median PT is $1 - data compiled by LSEG

CHPT stock lost ~18% so far this year through Thursday compared with ~2% fall in S&P 500 Electrical Components & Equipment index .SPLRCELCE and a 1.5% rise in the S&P 500 index .SPX