Brokers Set Expectations for EVgo FY2025 Earnings

EVgo, Inc. (NYSE:EVGO) – Equities researchers at Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for EVgo in a report released on Tuesday, January 21st. Cantor Fitzgerald analyst A. Sheppard forecasts that the company will post earnings of ($0.53) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating and a $5.00 target price on the stock. The consensus estimate for EVgo’s current full-year earnings is ($0.45) per share.

EVgo (NYSE:EVGO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $67.50 million for the quarter, compared to analyst estimates of $66.52 million. The firm’s revenue was up 92.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.09) earnings per share.

Several other research firms have also recently issued reports on EVGO. Royal Bank of Canada increased their target price on shares of EVgo from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Stifel Nicolaus upped their price target on shares of EVgo from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price target on EVgo from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. 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, UBS Group upgraded EVgo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $4.00 to $8.50 in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $6.61.

EVgo Trading Down 2.9 %

Shares of NYSE:EVGO opened at $3.31 on Wednesday. EVgo has a 1-year low of $1.65 and a 1-year high of $9.07. The stock’s fifty day simple moving average is $5.08 and its two-hundred day simple moving average is $5.04. The stock has a market cap of $1.00 billion, a PE ratio of -7.88 and a beta of 2.35.

Insider Activity

In other news, Director David Nanus sold 23,000,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $5.00, for a total value of $115,000,000.00. Following the sale, the director now directly owns 5,882,352 shares in the company, valued at $29,411,760. This represents a 79.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Badar Khan sold 166,725 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $5.14, for a total transaction of $856,966.50. Following the completion of the transaction, the chief executive officer now directly owns 348,761 shares of the company’s stock, valued at $1,792,631.54. The trade was a 32.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,184,104 shares of company stock worth $115,932,044. 66.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in EVgo during the third quarter worth approximately $51,000. Creative Planning grew its stake in EVgo by 32.7% in the 3rd quarter. Creative Planning now owns 13,365 shares of the company’s stock valued at $55,000 after buying an additional 3,297 shares during the last quarter. Legacy Capital Wealth Partners LLC increased its position in EVgo by 31.8% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 14,500 shares of the company’s stock worth $60,000 after buying an additional 3,500 shares during the period. Clear Harbor Asset Management LLC acquired a new position in shares of EVgo during the fourth quarter valued at about $72,000. Finally, Point72 DIFC Ltd acquired a new stake in EVgo during the second quarter worth $45,000. Institutional investors and hedge funds 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.