Cantor Fitzgerald Has Lowered Expectations for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO) had its price objective lowered by research analysts at Cantor Fitzgerald from $4.00 to $3.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 96.08% from the stock’s previous close.

A number of other research firms have also issued reports on EVGO. Royal Bank Of Canada dropped their target price on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Wall Street Zen downgraded EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of EVgo in a research report on Tuesday, July 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of EVgo in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.72.

EVgo Stock Performance

NASDAQ EVGO opened at $1.53 on Thursday. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07. The stock’s 50 day simple moving average is $1.86 and its 200-day simple moving average is $2.17. The company has a market cap of $480.21 million, a PE ratio of -4.37 and a beta of 2.82. EVgo has a 1-year low of $1.41 and a 1-year high of $5.18.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. The firm had revenue of $82.65 million for the quarter. During the same period last year, the firm earned ($0.10) EPS. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, equities research analysts anticipate that EVgo will post -0.51 EPS for the current fiscal year.

Institutional Trading of EVgo

Several institutional investors and hedge funds have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. lifted its position in EVgo by 59.3% in the first quarter. J. Derek Lewis & Associates Inc. now owns 43,000 shares of the company’s stock valued at $74,000 after buying an additional 16,000 shares during the last quarter. Royal Bank of Canada increased its position in shares of EVgo by 94.4% during the first quarter. Royal Bank of Canada now owns 41,038 shares of the company’s stock valued at $70,000 after acquiring an additional 19,929 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of EVgo by 89.4% in the 1st quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock valued at $1,123,000 after acquiring an additional 307,984 shares during the period. Renaissance Technologies LLC raised its stake in shares of EVgo by 31.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,192,933 shares of the company’s stock valued at $2,052,000 after acquiring an additional 288,100 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of EVgo by 46.3% in the 1st quarter. Cetera Investment Advisers now owns 42,683 shares of the company’s stock worth $73,000 after acquiring an additional 13,499 shares during the last quarter. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

More EVgo News

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: EVgo plans to deploy licensed Tesla V4 Superchargers under the EVgo brand across its U.S. network. The chargers can deliver up to 500 kW and 1,000 volts, potentially improving charging speed, customer appeal and site economics. EVgo Expands Fast Charging in the U.S. with Supercharger Deployment
• Positive Sentiment: The company announced a long-term plan targeting approximately $500 million in adjusted EBITDA by 2030, alongside plans with Brixmor to add more than 500 fast-charging stalls at U.S. shopping centers. These initiatives could expand utilization and recurring charging revenue. EVgo outlines path to approximately $0.5 billion adjusted EBITDA by 2030
• Positive Sentiment: Q2 charging-network revenue increased 19% year over year to $61 million, marking the company’s 18th consecutive quarter of double-digit growth. Network throughput rose 13% to 99 gigawatt-hours, while the quarterly loss of $0.15 per share was narrower than expected. EVgo Inc. Reports Second Quarter 2026 Results
• Neutral Sentiment: Pilot, General Motors and EVgo’s joint network now exceeds 300 locations and 1,300 stalls across 40 states, covering roughly 75% of the contiguous United States. Needham reaffirmed a “hold” rating, indicating limited near-term conviction. Pilot, General Motors and EVgo reach more than 300 fast-charging locations
• Negative Sentiment: Q2 total revenue was $82.65 million, down 15.7% year over year, and the company remains unprofitable. EVgo’s $400 million–$430 million FY 2026 revenue outlook is below the roughly $433 million analyst consensus, raising concerns about growth and execution.

EVgo Company Profile

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.