ChargePoint Holdings, Inc. (CHPT) closed the most recent trading day at $5.88, moving -4.85% from the previous trading session. This change lagged the S&P 500's daily loss of 0.52%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 0.32%.
Shares of the company witnessed a gain of 9.77% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 6.96%, and the S&P 500's gain of 3.3%.
The upcoming earnings release of ChargePoint Holdings, Inc. will be of great interest to investors. In that report, analysts expect ChargePoint Holdings, Inc. to post earnings of -$0.8 per share. This would mark year-over-year growth of 43.66%. Meanwhile, our latest consensus estimate is calling for revenue of $104.38 million, up 5.88% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.75 per share and a revenue of $426.19 million, representing changes of +39.96% and +3.64%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for ChargePoint Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, ChargePoint Holdings, Inc. is carrying a Zacks Rank of #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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