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

EVgo (NYSE:EVGO) released its quarterly earnings data 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 company had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $66.52 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 92.3% compared to the same quarter last year. EVgo updated its FY 2024 guidance to EPS.

EVgo Price Performance

Shares of NYSE EVGO opened at $5.05 on Friday. The company has a market cap of $1.53 billion, a PE ratio of -12.02 and a beta of 2.38. The company has a 50-day simple moving average of $6.10 and a 200-day simple moving average of $4.02. EVgo has a 12 month low of $1.65 and a 12 month high of $9.07.

Analyst Upgrades and Downgrades

EVGO has been the topic of a number of research reports. TD Cowen upgraded EVgo from a “hold” rating to a “buy” rating and upped their price target for the stock from $5.00 to $7.00 in a report on Thursday, October 3rd. Marathon Capitl upgraded EVgo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. UBS Group upgraded shares of EVgo from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $8.50 in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised shares of EVgo from a “neutral” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus lifted their target price on shares of EVgo from $6.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, EVgo presently has a consensus rating of “Buy” and a consensus target price 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.