Blink Charging (NASDAQ:BLNK) slides in early trading after missing the consensus EPS mark with its Q4 earnings report.
Needham kept a bullish stance on the electric vehicle charging station stock as it focused on some positive reports from the report.
Analyst Vikram Bagri: "Importantly, the revenue beat was driven by recurring charging services revenues exceeding expectations by ~43%. However, the beat in revenues was more than offset by higher than expected Opex which drove the earnings miss.
Bagri and team expect BLNK's margins to recover later this year with new products and the eventual easing of logistical issues. They also believe the company's 2022 revenue outlook has upside.
Shares of Blink Charging (BLNK) are down 7.40% in premarket actin to $23.67 vs. the 52-week trading range of $17.93 to $49.00.
Dig into the Blink Charging (BLNK) earnings call transcript.