ChargePoint Holdings, Inc. (CHPT) ended the recent trading session at $6.98, demonstrating a +1.31% change from the preceding day's closing price. This change outpaced the S&P 500's 0.06% loss on the day. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq lost 0.06%.
Shares of the company witnessed a loss of 5.49% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 3.48%, and the S&P 500's gain of 1.99%.
The investment community will be closely monitoring the performance of ChargePoint Holdings, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$1.07, reflecting a 10.83% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $104.61 million, up 2.67% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$5.08 per share and revenue of $406.51 million, indicating changes of +33.16% and -2.54%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for ChargePoint Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, ChargePoint Holdings, Inc. boasts a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 103, placing it within the top 43% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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