ChargePoint Holdings, Inc. (CHPT) Stock Sinks As Market Gains: What You Should Know

CHPT

ChargePoint Holdings, Inc. (CHPT - Free Report) closed the most recent trading day at $24.59, moving -0.89% from the previous trading session. This change lagged the S&P 500's daily gain of 0.42%.

Prior to today's trading, shares of the company had gained 38.45% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 30.93% and the S&P 500's gain of 7.03% in that time.

Wall Street will be looking for positivity from CHPT as it approaches its next earnings report date.

Investors might also notice recent changes to analyst estimates for CHPT. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CHPT is currently a Zacks Rank #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 6% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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