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

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

EVgo Trading Up 6.3 %

Shares of EVGO stock opened at $5.20 on Thursday. The stock has a market cap of $1.57 billion, a P/E ratio of -12.38 and a beta of 2.38. The stock has a 50 day simple moving average of $6.08 and a 200 day simple moving average of $4.01. EVgo has a 1 year low of $1.65 and a 1 year high of $9.07.

Analysts Set New Price Targets

Several analysts recently issued reports on EVGO shares. Stifel Nicolaus upped their target price on EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 target price on shares of EVgo in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Thursday, October 3rd. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and upped their target price for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. Finally, Capital One Financial upgraded EVgo to a “strong-buy” rating in a report on Monday, September 16th. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $6.61.

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.