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ChargePoint Holdings, Inc. (CHPT) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw ChargePoint Holdings, Inc. (CHPT - Free Report) ending at $3.38, denoting a -1.74% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 1.2%.
Shares of the company witnessed a loss of 38.79% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 4.23% and the S&P 500's loss of 3%.
Investors will be eagerly watching for the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. On that day, ChargePoint Holdings, Inc. is projected to report earnings of -$0.13 per share, which would represent year-over-year growth of 23.53%. Simultaneously, our latest consensus estimate expects the revenue to be $156.61 million, showing a 24.94% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.59 per share and a revenue of $610.18 million, demonstrating changes of +15.71% and +30.35%, respectively, from the preceding year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. ChargePoint Holdings, Inc. presently features a Zacks Rank of #4 (Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 42% of over 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) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw ChargePoint Holdings, Inc. (CHPT - Free Report) ending at $3.38, denoting a -1.74% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 0.93%, and the Nasdaq, a tech-heavy index, added 1.2%.
Shares of the company witnessed a loss of 38.79% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 4.23% and the S&P 500's loss of 3%.
Investors will be eagerly watching for the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. On that day, ChargePoint Holdings, Inc. is projected to report earnings of -$0.13 per share, which would represent year-over-year growth of 23.53%. Simultaneously, our latest consensus estimate expects the revenue to be $156.61 million, showing a 24.94% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$0.59 per share and a revenue of $610.18 million, demonstrating changes of +15.71% and +30.35%, respectively, from the preceding year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. ChargePoint Holdings, Inc. presently features a Zacks Rank of #4 (Sell).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 147, placing it within the bottom 42% of over 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.