In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $9.54, marking a +2.91% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.82%. Meanwhile, the Dow experienced a drop of 1.09%, and the technology-dominated Nasdaq saw a decrease of 2.86%.
Prior to today's trading, shares of the company had lost 9.12% lagged the Auto-Tires-Trucks sector's gain of 8.77% and the S&P 500's gain of 0.71%.
Investors will be eagerly watching for the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.55, indicating a 58.33% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $109.83 million, indicating a 3.93% growth compared to the corresponding quarter of the prior year.
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 note any recent changes to analyst estimates for ChargePoint Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 past month, the Zacks Consensus EPS estimate remained stagnant. ChargePoint Holdings, Inc. presently features 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 208, finds itself in the bottom 16% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This innovative software-as-a-service firm upped its user base +22% year over year. That rate is increasing and margins are expanding as AI efficiencies take effect. Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).