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ChargePoint Holdings, Inc. (CHPT) Stock Drops Despite Market Gains: Important Facts to Note

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ChargePoint Holdings, Inc. (CHPT - Free Report) closed the most recent trading day at $1.76, moving -1.12% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.13%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.1%.

The the stock of company has fallen by 3.78% in the past month, lagging the Auto-Tires-Trucks sector's gain of 1.22% and the S&P 500's loss of 0.35%.

The investment community will be paying close attention to the earnings performance of ChargePoint Holdings, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.12, reflecting a 20% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $106.09 million, indicating a 18.41% decline compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.34 per share and revenue of $540.85 million, which would represent changes of +56.96% and +6.75%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for ChargePoint Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, ChargePoint Holdings, Inc. is carrying 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 150, finds itself in the bottom 41% echelons of all 250+ industries.

The Zacks Industry Rank is ordered 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

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