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

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In the latest trading session, ChargePoint Holdings, Inc. (CHPT - Free Report) closed at $21.18, marking a -0.05% move from the previous day. This move lagged the S&P 500's daily gain of 0.37%.

Coming into today, shares of the company had gained 4.33% in the past month. In that same time, the Auto-Tires-Trucks sector gained 3.67%, while the S&P 500 gained 2.13%.

CHPT will be looking to display strength as it nears its next earnings release.

Any recent changes to analyst estimates for CHPT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CHPT is currently a Zacks Rank #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 230, putting it in the bottom 10% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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