ChargePoint Holdings, Inc. (CHPT) closed at $9.95 in the latest trading session, marking a +2.47% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.73%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 1.21%.
Heading into today, shares of the company had lost 30.5% over the past month, lagging the Auto-Tires-Trucks sector's loss of 1.53% and the S&P 500's gain of 0.47%.
The upcoming earnings release of ChargePoint Holdings, Inc. will be of great interest to investors. The company's upcoming EPS is projected at -$1.2, signifying a 40.00% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $94.8 million, indicating a 12.66% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$4.41 per share and revenue of $418.24 million. These totals would mark changes of +41.97% and +0.28%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for ChargePoint Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.51% downward. ChargePoint Holdings, Inc. presently features a Zacks Rank of #4 (Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 86, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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