In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $5.83, marking a +1.57% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.01%, and the Nasdaq, a tech-heavy index, lost 0.57%.
The stock of company has fallen by 15.46% in the past month, lagging the Auto-Tires-Trucks sector's loss of 4.03% and the S&P 500's gain of 0.25%.
The investment community will be paying close attention to the earnings performance of ChargePoint Holdings, Inc. in its upcoming release. In that report, analysts expect ChargePoint Holdings, Inc. to post earnings of -$0.8 per share. This would mark year-over-year growth of 43.66%. Meanwhile, our latest consensus estimate is calling for revenue of $104.38 million, up 5.88% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.75 per share and revenue of $426.19 million, indicating changes of +39.96% and +3.64%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ChargePoint Holdings, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, ChargePoint Holdings, Inc. boasts a Zacks Rank of #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).