Back to top

Image: Bigstock

ChargePoint Holdings, Inc. (CHPT) Rises Yet Lags Behind Market: Some Facts Worth Knowing

Read MoreHide Full Article

In the latest market close, ChargePoint Holdings, Inc. (CHPT - Free Report) reached $1.27, with a +0.79% movement compared to the previous day. This change lagged the S&P 500's 1.02% gain on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 2.03%.

Shares of the company witnessed a loss of 33.68% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 6.37% and the S&P 500's loss of 3.15%.

Analysts and investors alike will be keeping a close eye on the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.12, reflecting a 20% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $106.09 million, showing a 18.41% drop compared to the year-ago quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.34 per share and revenue of $551.73 million, indicating changes of +56.96% and +8.9%, respectively, compared to the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for ChargePoint Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. ChargePoint Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 40% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

ChargePoint Holdings, Inc. (CHPT) - free report >>

Published in