EVgo (NYSE:EVGO) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

EVgo (NYSE:EVGO) released its earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01), Briefing.com reports. The company had revenue of $67.50 million for the quarter, compared to analyst estimates of $66.52 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The business’s revenue was up 92.3% on a year-over-year basis. EVgo updated its FY 2024 guidance to EPS.

EVgo Stock Down 2.9 %

NYSE EVGO opened at $5.05 on Friday. EVgo has a fifty-two week low of $1.65 and a fifty-two week high of $9.07. The business has a 50 day moving average price of $6.10 and a two-hundred day moving average price of $4.02. The stock has a market cap of $1.53 billion, a PE ratio of -12.02 and a beta of 2.38.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $5.00 price target on shares of EVgo in a report on Monday, September 30th. Stifel Nicolaus lifted their target price on EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Marathon Capitl raised EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and raised their price objective for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a report on Wednesday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.61.

EVgo Company Profile

EVgo, Inc owns and operates a direct current fast charging network for electric vehicles (EVs) in the United States. The company offers electricity directly to drivers, who access its publicly available networked chargers; original equipment manufacturer charging and related services; fleet and rideshare public charging services; and charging as a service and fleet dedicated charging services.