In its upcoming report, ChargePoint Holdings, Inc. (CHPT) is predicted by Wall Street analysts to post quarterly loss of -$1.07 per share, reflecting an increase of 10.8% compared to the same period last year. Revenues are forecasted to be $104.61 million, representing a year-over-year increase of 2.7%.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific ChargePoint metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Networked charging systems' reaching $55.13 million. The estimate suggests a change of +4.8% year over year.
The average prediction of analysts places 'Subscriptions' at $42.60 million. The estimate indicates a change of +11.3% from the prior-year quarter.
The consensus among analysts is that 'Other' will reach $7.33 million. The estimate suggests a change of -33.4% year over year.
View all Key Company Metrics for ChargePoint here>>>
ChargePoint shares have witnessed a change of +4.6% in the past month, in contrast to the Zacks S&P 500 composite's -0.5% move. With a Zacks Rank #3 (Hold), CHPT is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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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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