In the latest close session, ChargePoint Holdings, Inc. (CHPT) was down 1.15% at $6.89. The stock's change was less than the S&P 500's daily gain of 0.8%. Meanwhile, the Dow lost 0.16%, and the Nasdaq, a tech-heavy index, added 1.63%.
Prior to today's trading, shares of the company had gained 34.56% outpaced the Auto-Tires-Trucks sector's gain of 0.48% and the S&P 500's gain of 8.11%.
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 -$1.11, indicating a 7.5% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $94.86 million, down 2.85% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.81 per share and a revenue of $415.98 million, signifying shifts of +16.81% and +1.16%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for ChargePoint Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 10.32% lower. Right now, ChargePoint Holdings, Inc. possesses a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 176, finds itself in the bottom 28% 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.
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).