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What Awaits ChargePoint Holdings (CHPT) in Q1 Earnings?
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ChargePoint Holdings (CHPT - Free Report) is set to release first-quarter fiscal 2021 results on Jun 3.
The company started trading on the New York Stock Exchange under the ticker CHPT on Mar 1, 2021, following completion of its previously announced business combination with Switchback Energy Acquisition Corporation.
At the close of the transaction, ChargePoint had over $615 million in cash (prior to payment of its outstanding term loan), which it anticipates will fund ongoing operations and to support the expansion of the company’s commercial, fleet and residential businesses in North America and Europe.
Hence, the fiscal first-quarter results will be its first quarterly earnings report since becoming a publicly traded company.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $37.1 million.
The consensus mark for loss has remained steady at 11 cents per share over the past 30 days.
Let’s see how things have shaped up prior to this announcement.
ChargePoint’s fiscal first quarter top line is expected to have benefited from growing demand for the company’s cloud subscription platform and software-defined charging hardware, which are designed to include options for every charging scenario (home, workplace, parking, hospitality, retail, transport fleets, and more).
At the end of 2020, ChargePoint had more than 105K active public and private charging spots on its network with access to an additional 157K active public places to charge through roaming integrations with other major EV charging networks across North America and Europe.
Its Subscription business is expected to have benefited from a recurring-revenue model. The company sells annual high margin SaaS subscriptions to the ChargePoint network, charging stations, parts and labor warranty subscriptions, and design build services.
Moreover, the coronavirus-induced digitization wave has been aiding demand for the company’s electric vehicles. ChargePoint’s fleets segment, which includes delivery and logistics, sales, service, and motor pool and shared mobility segment is witnessing growing customer interests to implement better cost efficiencies through electrification. This is expected to have aided enterprise customer growth in the to-be-reported quarter.
Software integrations with Apple CarPlay and Android Auto, as well as native RAM experiences such as in-car apps in Volvo recharge models and Pollstar and dynamic integration into the myChevrolet app are key catalysts in driving demand for ChargePoint’s chargers.
On Mar 9, ChargePoint and Volvo Cars extended their partnership, launching an in-car ChargePoint charging app for Recharge Models.
Moreover, integrations with mobile apps including Google Maps Apple Maps, Google Wear OS, Apple watchOS, Apple Pay, Google Pay, PayPal and more are expected to attracted consumers especially drivers in the to-be-reported quarter.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
ChargePoint has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Chewy Inc. (CHWY - Free Report) has an Earnings ESP of +133.3% and carries a Zacks Rank of 2, at present.
Signet Jewelers Limited (SIG - Free Report) has an Earnings ESP of +2.84% and carries a Zacks Rank of 2, currently.
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Image: Bigstock
What Awaits ChargePoint Holdings (CHPT) in Q1 Earnings?
ChargePoint Holdings (CHPT - Free Report) is set to release first-quarter fiscal 2021 results on Jun 3.
The company started trading on the New York Stock Exchange under the ticker CHPT on Mar 1, 2021, following completion of its previously announced business combination with Switchback Energy Acquisition Corporation.
At the close of the transaction, ChargePoint had over $615 million in cash (prior to payment of its outstanding term loan), which it anticipates will fund ongoing operations and to support the expansion of the company’s commercial, fleet and residential businesses in North America and Europe.
Hence, the fiscal first-quarter results will be its first quarterly earnings report since becoming a publicly traded company.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $37.1 million.
The consensus mark for loss has remained steady at 11 cents per share over the past 30 days.
Let’s see how things have shaped up prior to this announcement.
ChargePoint Holdings, Inc. Price and EPS Surprise
ChargePoint Holdings, Inc. price-eps-surprise | ChargePoint Holdings, Inc. Quote
Factors to Consider
ChargePoint’s fiscal first quarter top line is expected to have benefited from growing demand for the company’s cloud subscription platform and software-defined charging hardware, which are designed to include options for every charging scenario (home, workplace, parking, hospitality, retail, transport fleets, and more).
At the end of 2020, ChargePoint had more than 105K active public and private charging spots on its network with access to an additional 157K active public places to charge through roaming integrations with other major EV charging networks across North America and Europe.
Its Subscription business is expected to have benefited from a recurring-revenue model. The company sells annual high margin SaaS subscriptions to the ChargePoint network, charging stations, parts and labor warranty subscriptions, and design build services.
Moreover, the coronavirus-induced digitization wave has been aiding demand for the company’s electric vehicles. ChargePoint’s fleets segment, which includes delivery and logistics, sales, service, and motor pool and shared mobility segment is witnessing growing customer interests to implement better cost efficiencies through electrification. This is expected to have aided enterprise customer growth in the to-be-reported quarter.
Software integrations with Apple CarPlay and Android Auto, as well as native RAM experiences such as in-car apps in Volvo recharge models and Pollstar and dynamic integration into the myChevrolet app are key catalysts in driving demand for ChargePoint’s chargers.
On Mar 9, ChargePoint and Volvo Cars extended their partnership, launching an in-car ChargePoint charging app for Recharge Models.
Moreover, integrations with mobile apps including Google Maps Apple Maps, Google Wear OS, Apple watchOS, Apple Pay, Google Pay, PayPal and more are expected to attracted consumers especially drivers in the to-be-reported quarter.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
ChargePoint has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Smith & Wesson Brands, Inc. (SWBI - Free Report) has an Earnings ESP of +22.05% and is #1 Ranked. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chewy Inc. (CHWY - Free Report) has an Earnings ESP of +133.3% and carries a Zacks Rank of 2, at present.
Signet Jewelers Limited (SIG - Free Report) has an Earnings ESP of +2.84% and carries a Zacks Rank of 2, currently.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>