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


You’re reading Entrepreneur United States, an international franchise of Entrepreneur Media.

This story originally appeared on Zacks

In the latest trading session, ChargePoint Holdings, Inc. (CHPT) closed at $27.30, marking a +1.49% move from the previous day. The stock outpaced the S&P 500’s daily loss of 0.46%. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.68%.

– Zacks

Prior to today’s trading, shares of the company had gained 26% over the past month. This has outpaced the Auto-Tires-Trucks sector’s gain of 19.47% and the S&P 500’s gain of 4.05% in that time.

ChargePoint Holdings, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be December 7, 2021.

Investors might also notice recent changes to analyst estimates for ChargePoint Holdings, Inc.Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ChargePoint Holdings, Inc. currently has 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 237, putting it in the bottom 7% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.

5 Stocks Set to Double

Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

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 Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research



Source

Leave a Reply

Your email address will not be published. Required fields are marked *