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

In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $20, marking a +0.05% move from the previous day. The stock lagged the S&P 500's daily gain of 0.3%.

Heading into today, shares of the company had lost 5.44% over the past month, lagging the Auto-Tires-Trucks sector's gain of 1.93% and the S&P 500's loss of 2.37% in that time.

Wall Street will be looking for positivity from CHPT as it approaches its next earnings report date.

Investors might also notice recent changes to analyst estimates for CHPT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. CHPT is currently a Zacks Rank #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 6% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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