ChargePoint Holdings, Inc. (CHPT) closed at $5.52 in the latest trading session, marking a +1.1% move from the prior day. This move lagged the S&P 500's daily gain of 1.48%. Meanwhile, the Dow gained 1.32%, and the Nasdaq, a tech-heavy index, added 2.13%.
The company's stock has dropped by 8.39% in the past month, exceeding the Auto-Tires-Trucks sector's loss of 16.02% and lagging the S&P 500's gain of 0.19%.
The investment community will be closely monitoring the performance of ChargePoint Holdings, Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.8, reflecting a 43.66% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $104.38 million, up 5.88% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.75 per share and a revenue of $426.19 million, signifying shifts of +39.96% and +3.64%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for ChargePoint Holdings, Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health 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.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. ChargePoint Holdings, Inc. presently features a Zacks Rank of #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 173, this industry ranks in the bottom 30% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during 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).