ChargePoint Holdings, Inc. (CHPT) ended the recent trading session at $6.41, demonstrating a -1.69% change from the preceding day's closing price. This change lagged the S&P 500's 1.02% gain on the day. Elsewhere, the Dow gained 1.62%, while the tech-heavy Nasdaq added 0.89%.
Shares of the company have appreciated by 36.4% over the course of the past month, outperforming the Auto-Tires-Trucks sector's gain of 3.21%, and the S&P 500's gain of 12.23%.
The investment community will be closely monitoring the performance of ChargePoint Holdings, Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$1.11, signifying a 7.50% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $94.86 million, down 2.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$3.81 per share and revenue of $415.98 million, which would represent changes of +16.81% and +1.16%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for ChargePoint Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% 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. With its current Zacks Industry Rank of 164, this industry ranks in the bottom 33% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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
This article originally published on Zacks Investment Research (zacks.com).