EVgo (NYSE:EVGO) Announces Earnings Results

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

EVgo Trading Up 9.0 %

NYSE EVGO traded up $0.44 on Wednesday, hitting $5.33. 2,386,972 shares of the company were exchanged, compared to its average volume of 4,507,928. EVgo has a 12 month low of $1.65 and a 12 month high of $9.07. The company has a market cap of $1.61 billion, a PE ratio of -13.25 and a beta of 2.38. The stock has a fifty day moving average of $6.06 and a 200-day moving average of $4.00.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Marathon Capitl raised shares of EVgo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 target price for the company in a research report on Thursday, October 3rd. Royal Bank of Canada increased their price target on EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. UBS Group raised EVgo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $8.50 in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $5.00 target price on shares of EVgo in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.