In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $5.96, marking a +2.23% move from the previous day. This move outpaced the S&P 500's daily loss of 0.51%. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw a decrease of 1.51%.
The company's stock has dropped by 18.92% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 1.25% and the S&P 500's gain of 0.93%.
Investors will be eagerly watching for the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. 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, the latest consensus estimate predicts the revenue to be $104.61 million, indicating a 2.67% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$5.08 per share and a revenue of $406.51 million, signifying shifts of +33.16% and 0%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for ChargePoint Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, ChargePoint Holdings, Inc. possesses a Zacks Rank of #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 148, finds itself in the bottom 40% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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