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ChargePoint Holdings, Inc. (CHPT) Gains But Lags Market: What You Should Know

ChargePoint Holdings, Inc. (CHPT) closed the most recent trading day at $26.06, moving +0.93% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.32%. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq lost 0.15%.

Coming into today, shares of the company had gained 4.2% in the past month. In that same time, the Auto-Tires-Trucks sector gained 6.55%, while the S&P 500 gained 3.61%.

Investors will be hoping for strength from ChargePoint Holdings, Inc. as it approaches its next earnings release, which is expected to be December 7, 2021.

It is also important to note the recent changes to analyst estimates for ChargePoint Holdings, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 236, which puts it in the bottom 8% 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.

To follow CHPT in the coming trading sessions, be sure to utilize Zacks.com.


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ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis Report
 
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