Load up on ChargePoint Stock Following Q4 Earnings? This Analyst Says Yes
4/3 03:36
Going by the initial reaction to ChargePoint’s (CHPT) latest quarterly earnings (F4Q22), it looks a company can now miss on either one of the top-and bottom-line metrics but as long as the outlook is favorable, investors don’t seem to mind.
The EV charging station leader delivered EPS of -$0.23, falling short of the consensus forecast by $0.05. On the topline, however, the company beat the Street’s call by $4.57 million as revenue climbed 90.3% year-over-year to reach $80.7 million. More importantly, ChargePoint’s full-year revenue guidance is in the $450 million to $500 million range, far above consensus expectations of $380 million. Despite the constrained supply chain environment, the company sees its growth rate accelerating to 96% this year - from 65% in the last fiscal year.
Evercore’s James West puts the strong momentum down to the key acquisitions the company has made along with investments into its “infrastructure and scale.” West calls electric mobility a “mega theme,” with the company “directly tied to the accelerating adoption of EVs in North America and Europe."
In fact, over the next 20 years, in the U.S. alone, W...