ChargePoint Holdings, Inc. (CHPT) Falls More Steeply Than Broader Market: What Investors Need to Know

In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $9.80, marking a -3.92% move from the previous day. The stock's change was less than the S&P 500's daily loss of 1.12%. At the same time, the Dow lost 0.84%, and the tech-heavy Nasdaq lost 1.9%. Shares of the company have depreciated by 12.67% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 3.53%, and the S&P 500's gain of 1.26%.The investment community will be closely monitoring the performance of ChargePoint Holdings, Inc. in its forthcoming earnings report. In that report, analysts expect ChargePoint Holdings, Inc. to post earnings of -$1.35 per share. This would mark year-over-year growth of 32.5%. Simultaneously, our latest consensus estimate expects the revenue to be $96.46 million, showing a 3.16% drop compared to the year-ago quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$5.16 per share and revenue of $393.9 million, indicating changes of +32.11% and -8.61%, respectively, compared to the previous year. Any recent changes to analyst estimates for ChargePoint Holdings, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ChargePoint Holdings, Inc. presently features 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 96, putting it in the top 39% 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. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ChargePoint Holdings, Inc. (CHPT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks