The most recent trading session ended with ChargePoint Holdings, Inc. (CHPT) standing at $0.63, reflecting a +0.48% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.63%. Meanwhile, the Dow gained 0.21%, and the Nasdaq, a tech-heavy index, added 1.52%.
Shares of the company have depreciated by 0.14% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 5.27% and outperforming the S&P 500's loss of 0.7%.
The investment community will be paying close attention to the earnings performance of ChargePoint Holdings, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 54.55% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $100.52 million, showing a 6.09% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.16 per share and revenue of $455.9 million. These totals would mark changes of +57.89% and +9.31%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for ChargePoint Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. ChargePoint Holdings, Inc. presently features a Zacks Rank of #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 173, placing it within the bottom 30% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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