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ChargePoint Holdings, Inc. (CHPT) Gains But Lags Market: What You Should Know

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ChargePoint Holdings, Inc. (CHPT) closed at $12.64 in the latest trading session, marking a +1.69% move from the prior day. The stock lagged the S&P 500's daily gain of 2.76%. Meanwhile, the Dow gained 2.43%, and the Nasdaq, a tech-heavy index, added 0.05%.

Coming into today, shares of the company had lost 11.4% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.65%, while the S&P 500 gained 4.44%.

ChargePoint Holdings, Inc. will be looking to display strength as it nears its next earnings release. On that day, ChargePoint Holdings, Inc. is projected to report earnings of -$0.20 per share, which would represent a year-over-year decline of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $103.5 million, up 84.42% from the prior-year quarter.

CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$0.74 per share and revenue of $478.71 million. These results would represent year-over-year changes of +55.15% and +97.54%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ChargePoint Holdings, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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