ChargePoint Holdings, Inc. (CHPT) closed at $9.67 in the latest trading session, marking a -1.53% move from the prior day. This change lagged the S&P 500's 0.06% gain on the day. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq lost 0.26%.
Shares of the company witnessed a loss of 20.42% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its gain of 7.48%, and the S&P 500's gain of 4.57%.
Market participants will be closely following the financial results of ChargePoint Holdings, Inc. in its upcoming release. The company's upcoming EPS is projected at -$1.35, signifying a 32.50% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $96.46 million, down 3.16% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$5.16 per share and a revenue of $393.9 million, demonstrating changes of +32.11% and -5.56%, respectively, from the preceding year.
Any recent changes to analyst estimates for ChargePoint Holdings, Inc. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ChargePoint Holdings, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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