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Why ChargePoint Holdings, Inc. (CHPT) Dipped More Than Broader Market Today

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In the latest market close, ChargePoint Holdings, Inc. (CHPT - Free Report) reached $1.86, with a -1.59% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.1%, and the technology-dominated Nasdaq saw a decrease of 0.26%.

Coming into today, shares of the company had gained 35% in the past month. In that same time, the Auto-Tires-Trucks sector lost 0.02%, while the S&P 500 gained 5.04%.

The investment community will be closely monitoring the performance of ChargePoint Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on June 5, 2024. The company is forecasted to report an EPS of -$0.12, showcasing a 20% upward movement from the corresponding quarter of the prior 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.

CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$0.34 per share and revenue of $540.85 million. These results would represent year-over-year changes of +56.96% and +6.75%, respectively.

Investors should also pay attention to any latest changes in analyst estimates for ChargePoint Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, ChargePoint Holdings, Inc. boasts a Zacks Rank of #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 151, positioning it in the bottom 41% 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.

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

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