ChargePoint Holdings, Inc. (CHPT) ended the recent trading session at $6.90, demonstrating a -1.85% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.65%. On the other hand, the Dow registered a gain of 0.48%, and the technology-centric Nasdaq increased by 0.82%.
The company's shares have seen a decrease of 23.84% over the last month, not keeping up with the Auto-Tires-Trucks sector's gain of 1.58% and the S&P 500's gain of 1.15%.
Investors will be eagerly watching for the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$1.07, indicating a 10.83% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $104.61 million, indicating a 2.67% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$5.08 per share and a revenue of $406.51 million, representing changes of +33.16% and -2.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for ChargePoint Holdings, Inc. Recent revisions tend to reflect the latest 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.51% upward. As of now, ChargePoint Holdings, Inc. holds a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 75, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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