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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 $15.99, marking a -1.36% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 0.14%.

Prior to today's trading, shares of the company had lost 16.87% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 2.74% and the S&P 500's gain of 0.12% in that time.

ChargePoint Holdings, Inc. will be looking to display strength as it nears its next earnings release.

Any recent changes to analyst estimates for ChargePoint Holdings, Inc. should also be noted by investors. 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.

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. Within the past 30 days, our consensus EPS projection remained stagnant. ChargePoint Holdings, Inc. currently has a Zacks Rank of #4 (Sell).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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