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ChargePoint Holdings, Inc. (CHPT) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $15.88, marking a -0.5% move from the previous day. This change lagged the S&P 500's 0.08% loss on the day. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 0.06%.

Heading into today, shares of the company had gained 28.19% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 22.05% and the S&P 500's gain of 8.78% in that time.

ChargePoint Holdings, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect ChargePoint Holdings, Inc. to post earnings of -$0.20 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $101.94 million, up 81.65% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.74 per share and revenue of $478.6 million. These totals would mark changes of +55.15% and +97.49%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for ChargePoint Holdings, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team 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, 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 remained stagnant. ChargePoint Holdings, Inc. is currently a Zacks Rank #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.

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.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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