ChargePoint Holdings, Inc. (CHPT) closed the most recent trading day at $6.27, moving -3.24% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.13%. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.72%.
Prior to today's trading, shares of the company had lost 2.41% was narrower than the Auto-Tires-Trucks sector's loss of 5.92% and lagged the S&P 500's gain of 0.78%.
The investment community will be closely monitoring the performance of ChargePoint Holdings, Inc. in its forthcoming earnings report. 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.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$5.08 per share and a revenue of $406.51 million, indicating changes of +33.16% and -2.54%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for ChargePoint Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business 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, 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 remained stagnant. Currently, ChargePoint Holdings, Inc. is carrying a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 160, finds itself in the bottom 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.
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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