In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $0.70, marking a +0.66% move from the previous day. This move outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow saw a downswing of 0.21%, while the tech-heavy Nasdaq appreciated by 0.72%.
The the stock of company has risen by 16.06% in the past month, lagging the Auto-Tires-Trucks sector's gain of 24% and overreaching the S&P 500's gain of 9.86%.
The upcoming earnings release of ChargePoint Holdings, Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 54.55% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $100.52 million, indicating a 6.09% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.16 per share and a revenue of $455.9 million, indicating changes of +57.89% and +9.31%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for ChargePoint Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 past month, there's been no change in the Zacks Consensus EPS estimate. 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. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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