ChargePoint Holdings, Inc. (CHPT) Stock Sinks As Market Gains: What You Should Know

In the latest close session, ChargePoint Holdings, Inc. (CHPT) was down 2.23% at $0.61. The stock's change was less than the S&P 500's daily gain of 0.4%. Elsewhere, the Dow saw an upswing of 0.47%, while the tech-heavy Nasdaq appreciated by 0.24%. The company's shares have seen a decrease of 16.92% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 1.52% and the S&P 500's gain of 4.61%.Analysts and investors alike will be keeping a close eye on the performance of ChargePoint Holdings, Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.06, indicating a 40% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $94.8 million, reflecting a 12.66% fall from the equivalent quarter last year. CHPT's full-year Zacks Consensus Estimates are calling for earnings of -$0.22 per share and revenue of $418.5 million. These results would represent year-over-year changes of +42.11% and +0.34%, respectively. It is also important to note the recent changes to analyst estimates for ChargePoint Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ChargePoint Holdings, Inc. is currently a Zacks Rank #4 (Sell). The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 85, finds itself in the top 35% echelons of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow CHPT in the coming trading sessions, be sure to utilize Zacks.com. #1 Semiconductor Stock to Buy (Not NVDA)The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow.One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be.See This Stock Now for Free >>Want 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