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ChargePoint Holdings, Inc. (CHPT) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·2-min read

ChargePoint Holdings, Inc. (CHPT) closed at $11.02 in the latest trading session, marking a +0.27% move from the prior day. This move outpaced the S&P 500's daily gain of 0.02%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, lost 0.16%.

Coming into today, shares of the company had lost 24.83% in the past month. In that same time, the Auto-Tires-Trucks sector lost 21.32%, while the S&P 500 lost 12.5%.

Investors will be hoping for strength from ChargePoint Holdings, Inc. as it approaches its next earnings release, which is expected to be May 31, 2022. On that day, ChargePoint Holdings, Inc. is projected to report earnings of -$0.17 per share, which would represent year-over-year growth of 5.56%. Our most recent consensus estimate is calling for quarterly revenue of $75.1 million, up 85.38% from the year-ago period.

CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$0.70 per share and revenue of $474.84 million. These results would represent year-over-year changes of +57.58% and +95.94%, respectively.

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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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 #4 (Sell).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 18% 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.

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


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Zacks Investment Research