Evercore ISI analyst James West lowered the firm’s price target on ChargePoint to $4 from $6 and keeps an Outperform rating on the shares after the company announced additional restructuring to rightsize sales and marketing, pushing back the positive adjusted EBITDA target to calendar 2025. The large changes being made to the sales and marketing organization is likely to cause some disruption in the near term, though the second quarter is likely to be the trough in term of year-over-year revenue declines, the analyst tells investors.
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