ChargePoint Holdings, Inc. (CHPT) closed the most recent trading day at $7.92, moving -2.58% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.6%. Meanwhile, the Dow experienced a rise of 0.83%, and the technology-dominated Nasdaq saw an increase of 0.64%.
The stock of company has fallen by 8.96% in the past month, lagging the Auto-Tires-Trucks sector's loss of 1.57% and the S&P 500's gain of 1.34%.
Market participants will be closely following the financial results of ChargePoint Holdings, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.55, marking a 58.33% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $109.83 million, up 3.93% from the prior-year quarter.
CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$2.03 per share and revenue of $442.3 million. These results would represent year-over-year changes of +55.68% and +7.56%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for ChargePoint Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ChargePoint Holdings, Inc. is currently a Zacks Rank #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 184, this industry ranks in the bottom 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CHPT in the coming trading sessions, be sure to utilize Zacks.com.
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ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).