In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $10.47, marking a -1.97% move from the previous day. This change lagged the S&P 500's 0.99% loss on the day. Meanwhile, the Dow lost 0.23%, and the Nasdaq, a tech-heavy index, lost 1.58%.
The stock of company has fallen by 8.17% in the past month, lagging the Auto-Tires-Trucks sector's gain of 4.01% and the S&P 500's gain of 3.59%.
Market participants will be closely following the financial results of ChargePoint Holdings, Inc. in its upcoming release. The company is expected to report EPS of -$1.35, up 32.5% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $96.46 million, indicating a 3.16% 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 -$5.16 per share and revenue of $393.9 million. These totals would mark changes of +32.11% and -5.56%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ChargePoint Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, ChargePoint Holdings, Inc. holds 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 74, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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