ChargePoint Holdings, Inc. (CHPT) Dips More Than Broader Markets: What You Should Know
ChargePoint Holdings, Inc. (CHPT) closed the most recent trading day at $11.41, moving -0.09% from the previous trading session. This change lagged the S&P 500's 0.02% loss on the day. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 5.44%.
Prior to today's trading, shares of the company had gained 38.42% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 8.38% and the S&P 500's gain of 4.57% in that time.
ChargePoint Holdings, Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.15, up 28.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $165.22 million, up 104.78% from the year-ago period.
CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$0.72 per share and revenue of $480.47 million. These results would represent year-over-year changes of +56.36% and +98.26%, respectively.
Investors might also notice recent changes to analyst estimates for ChargePoint Holdings, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ChargePoint Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% 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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