In the latest close session, ChargePoint Holdings, Inc. (CHPT) was down 1.61% at $6.12. The stock fell short of the S&P 500, which registered a loss of 0.06% for the day. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 0.32%.
Prior to today's trading, shares of the company had gained 3.84% outpaced the Auto-Tires-Trucks sector's loss of 10.07% and the S&P 500's gain of 3.42%.
Investors will be eagerly watching for the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.8, up 43.66% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $104.38 million, showing a 5.88% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$2.75 per share and a revenue of $426.19 million, demonstrating changes of +39.96% and +5.55%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for ChargePoint Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ChargePoint Holdings, Inc. is currently a Zacks Rank #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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