EVgo Vs. ChargePoint: Analyst Verdict On Which Stock Leads The EV Charging Race?
Portfolio Pulse from Surbhi Jain
EVgo Inc (NASDAQ:EVGO) is expected to outperform ChargePoint Holdings Inc (NYSE:CHPT) in the EV charging sector. EVgo's scalable business model and higher utilization give it an edge, with potential profitability by 2025. ChargePoint struggles with hardware sales and profitability concerns.
October 03, 2024 | 3:58 pm
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POSITIVE IMPACT
EVgo is expected to outperform in the EV charging sector due to its scalable business model and higher utilization. Analyst Bill Peterson sees potential profitability by 2025, with a $7 price target.
EVgo's owner-operator model ties revenue to electricity dispensed, allowing growth despite slow EV sales. Analyst optimism and potential DOE loan support further boost its outlook.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
ChargePoint faces challenges with its hardware-focused business model amid slower EV adoption. Analyst downgrades to 'Underweight' due to profitability concerns and unclear growth path.
ChargePoint's reliance on hardware sales and third-party site hosts exposes it to underperformance. Analyst downgrade reflects concerns over profitability and growth visibility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 85