-We’ve seen a brutal bear market tear through growth stocks. While that has helped shake out some weak hands, it has also brought down high-quality stocks too. For instance, ChargePoint (NYSE:CHPT) is down massively from its highs, as investors dump CHPT stock and its peers.
-The company was founded in 2007, so it’s not a flash-in-the-pan new arrival looking to take advantage of a hot trend and make a quick buck. The company has more than 132,000 charging locations in North America and Europe. That number swells to almost 160,000 locations when taking into account integrations with other networks.
-Further, ChargePoint has “more market share (at more than 70%) in networked level 2 charging than the closest competitor in North America.”
-More importantly, it has the “largest online network of independently owned EV charging stations operating in 14 countries and makes the technology used in it.” As the trends in EV continue to push further, so too does business for ChargePoint. Consensus expectations call for solid growth as a result.
-If we can see 40% growth this year, then 69% next, then 75% in the following year, we are talking about several years of strong and accelerating growth.
-If this company is doing almost $1 billion in revenue in just a couple of years, We believe it’s undervalued today.
-There has been an enormous push toward electric vehicles (EVs). That’s evident by new entrants, momentum in the stocks and in vehicle sales. Heck, the largest EV producer in the world just said it’s sold out for the quarter already. At one point, its market cap swelled to the point where it was larger than every other automaker in the world.
-More and more drivers are realizing the benefits to EVs. Longer driving ranges are easing what’s referred to as “range anxiety,” but so too is ChargePoint.
-As more EVs come to market from more producers, consumers will inevitably need more charging stations. The leading EV producer in the U.S. built its own network for its customers. At the time, it needed to, to help persuade customers to buy its vehicles.
-The company was founded in 2007, so it’s not a flash-in-the-pan new arrival looking to take advantage of a hot trend and make a quick buck. The company has more than 132,000 charging locations in North America and Europe. That number swells to almost 160,000 locations when taking into account integrations with other networks.
-Further, ChargePoint has “more market share (at more than 70%) in networked level 2 charging than the closest competitor in North America.”
-More importantly, it has the “largest online network of independently owned EV charging stations operating in 14 countries and makes the technology used in it.” As the trends in EV continue to push further, so too does business for ChargePoint. Consensus expectations call for solid growth as a result.
-If we can see 40% growth this year, then 69% next, then 75% in the following year, we are talking about several years of strong and accelerating growth.
-If this company is doing almost $1 billion in revenue in just a couple of years, We believe it’s undervalued today.
-There has been an enormous push toward electric vehicles (EVs). That’s evident by new entrants, momentum in the stocks and in vehicle sales. Heck, the largest EV producer in the world just said it’s sold out for the quarter already. At one point, its market cap swelled to the point where it was larger than every other automaker in the world.
-More and more drivers are realizing the benefits to EVs. Longer driving ranges are easing what’s referred to as “range anxiety,” but so too is ChargePoint.
-As more EVs come to market from more producers, consumers will inevitably need more charging stations. The leading EV producer in the U.S. built its own network for its customers. At the time, it needed to, to help persuade customers to buy its vehicles.