Equities Analysts Issue Forecasts for EVgo FY2025 Earnings

EVgo, Inc. (NASDAQ:EVGO) – Stock analysts at Roth Capital cut their FY2025 EPS estimates for EVgo in a research note issued to investors on Wednesday, May 7th. Roth Capital analyst C. Irwin now forecasts that the company will earn ($0.32) per share for the year, down from their previous forecast of ($0.28). Roth Capital has a “Buy” rating on the stock. The consensus estimate for EVgo’s current full-year earnings is ($0.45) per share.

EVGO has been the subject of a number of other research reports. Stifel Nicolaus reduced their price objective on EVgo from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of EVgo in a report on Thursday, May 8th. UBS Group dropped their price objective on shares of EVgo from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $8.00 target price on shares of EVgo in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.25.

EVgo Trading Down 2.7%

NASDAQ:EVGO opened at $3.64 on Monday. The stock has a 50 day moving average of $2.76 and a 200-day moving average of $3.98. The firm has a market capitalization of $1.12 billion, a PE ratio of -8.67 and a beta of 2.27. EVgo has a 52 week low of $1.92 and a 52 week high of $9.07.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The firm had revenue of $75.29 million for the quarter, compared to the consensus estimate of $70.11 million. During the same quarter last year, the business earned ($0.09) earnings per share. The business’s revenue for the quarter was up 36.4% compared to the same quarter last year.

Institutional Investors Weigh In On EVgo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Summit Securities Group LLC purchased a new stake in shares of EVgo during the first quarter worth $30,000. CacheTech Inc. acquired a new position in EVgo in the 1st quarter worth about $46,000. Adams Wealth Management purchased a new stake in shares of EVgo during the 1st quarter worth about $46,000. Nuveen LLC bought a new stake in shares of EVgo in the 1st quarter valued at approximately $3,833,000. Finally, Invesco Ltd. grew its stake in shares of EVgo by 39.4% in the 1st quarter. Invesco Ltd. now owns 1,826,705 shares of the company’s stock valued at $4,859,000 after buying an additional 516,382 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company’s stock.

About EVgo

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.