In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $5.84, marking a -7.3% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.38%. Meanwhile, the Dow experienced a rise of 0.29%, and the technology-dominated Nasdaq saw an increase of 0.62%.
Heading into today, shares of the company had lost 12.5% over the past month, lagging the Auto-Tires-Trucks sector's loss of 1.97% and the S&P 500's gain of 1.61%.
The upcoming earnings release of ChargePoint Holdings, Inc. will be of great interest to investors. The company is forecasted to report an EPS of -$0.8, showcasing a 43.66% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $104.38 million, indicating a 5.88% growth compared to the corresponding quarter of the prior year.
CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$2.75 per share and revenue of $426.19 million. These results would represent year-over-year changes of +39.96% and +3.64%, respectively.
Investors should also note any recent changes to analyst estimates for ChargePoint Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, ChargePoint Holdings, Inc. possesses a Zacks Rank of #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 160, positioning it in the bottom 35% 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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ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).