Roth Capital Forecasts EVgo’s FY2027 Earnings (NYSE:EVGO)

EVgo, Inc. (NYSE:EVGO) – Equities research analysts at Roth Capital increased their FY2027 earnings per share estimates for EVgo in a research note issued to investors on Tuesday, November 12th. Roth Capital analyst C. Irwin now forecasts that the company will earn $0.11 per share for the year, up from their prior estimate of $0.10. The consensus estimate for EVgo’s current full-year earnings is ($0.40) per share.

EVgo (NYSE:EVGO) last released its quarterly earnings data 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 firm had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.52 million. EVgo’s revenue for the quarter was up 92.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.09) EPS.

A number of other equities research analysts have also recently commented on EVGO. Capital One Financial raised shares of EVgo to a “strong-buy” rating in a research note on Monday, September 16th. Marathon Capitl upgraded shares of EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price target for the company in a report on Thursday, October 3rd. Royal Bank of Canada lifted their price target on shares of EVgo from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $6.61.

EVgo Stock Performance

EVgo stock traded down $0.05 during midday trading on Thursday, hitting $5.15. 627,800 shares of the company were exchanged, compared to its average volume of 4,537,057. The business has a fifty day simple moving average of $6.08 and a two-hundred day simple moving average of $4.01. The firm has a market capitalization of $1.56 billion, a PE ratio of -12.38 and a beta of 2.38. EVgo has a fifty-two week low of $1.65 and a fifty-two week high of $9.07.

Institutional Investors Weigh In On EVgo

A number of large investors have recently modified their holdings of the business. Legacy Capital Wealth Partners LLC purchased a new stake in shares of EVgo in the second quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in shares of EVgo in the third quarter valued at about $51,000. Creative Planning increased its position in EVgo by 32.7% during the third quarter. Creative Planning now owns 13,365 shares of the company’s stock worth $55,000 after purchasing an additional 3,297 shares during the last quarter. Bleakley Financial Group LLC purchased a new position in EVgo during the first quarter worth about $36,000. Finally, SG Americas Securities LLC acquired a new position in EVgo in the 1st quarter valued at about $41,000. 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.