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ChargePoint Holdings, Inc. (CHPT) Gains As Market Dips: What You Should Know

In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $16.69, marking a +1.52% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.04%.

Heading into today, shares of the company had gained 37.8% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 11.75% and the S&P 500's gain of 8.06% in that time.

Investors will be hoping for strength from ChargePoint Holdings, Inc. as it approaches its next earnings release. On that day, ChargePoint Holdings, Inc. is projected to report earnings of -$0.20 per share, which would represent a year-over-year decline of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $101.94 million, up 81.65% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.74 per share and revenue of $478.6 million, which would represent changes of +55.15% and +97.49%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for ChargePoint Holdings, Inc.Recent revisions tend to reflect the latest near-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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ChargePoint Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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