What to expect from ChargePoint's Q3 earnings?
Dec. 06, 2021 2:26 PM ETChargePoint Holdings, Inc. (CHPT)By: Preeti Singh, SA News Editor16 Comments
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- ChargePoint Holdings (NYSE:CHPT) is scheduled to announce Q3 earnings results on Tuesday, December 7th, after market close.
- The consensus EPS Estimate is -$0.13 and the consensus Revenue Estimate is $63.18M.
- ChargePoint issued a Q3 revenue guidance of $60M-$65M at the time of its Q2 results.
- It posted better-than-expected revenues in Q2, raising its FY guidance that drove an 8.2% boost the next day. Shares are -46.18% year-to-date.
- The EV charging company got a recent boost by a bullish comment from Evercore ISI, which initiated coverage of the firm with an Outperform rating. Stifel too started coverage on ChargePoint with a positive Buy rating.
- Meanwhile, Bank of America launched coverage on the firm in September with a Neutral rating, citing supply chain issues. Recent SA contributor analyses have also been more cautious, including JR Research and Stone Fox Capital.
- In the long term, ChargePoint is well-positioned to benefit from the new bipartisan infrastructure package, set to direct billions of dollars to supporting charging networks.
- Over the last 3 months, EPS estimates have seen 0 upward revisions and 3 downward. Revenue estimates have seen 3 upward revisions and 0 downward.