ChargePoint stock surges after earnings beat despite EV sales slump

Earnings
โดย TheStreet·US·Read original
Summary · why it matters

ChargePoint, the electric vehicle charging company, saw its shares surge after reporting better-than-expected revenue and profit for its second quarter of fiscal 2027, despite a broader decline in EV sales. The stock closed at $5.19 before the September 2 report, then climbed more than 50% on September 3 and traded near $9.82 by Friday, up about 74% over five days. Revenue came in at $116.1 million, up 18% year over year and above guidance and analyst estimates of about $105 million. The company also reported essentially zero cash burn, record non-GAAP gross margin of 38%, and a GAAP net loss that shrank 46% to $35.6 million. ChargePoint's installed base of 44,800 physical station locations is the largest Level 2 commercial footprint in the U.S., and it highlighted partnerships with Mercedes-Benz and Eaton as growth drivers. However, Wall Street remains cautious, with six analysts rating the stock a Hold and an average price target of $7.5, below the current price. The rally comes as U.S. EV sales fell 27% in the first quarter of 2026 after federal tax credits were terminated, according to Cox Automotive.

Impact on stocks 3

Electrification & Mobility▲ · 3 stocks
ChargePoint Holdings Inc
CHPT
▲ PositiveCapitalrelevance

ChargePoint reported better-than-expected revenue and profit, record gross margin, and reduced net loss, driving a stock surge.

Eaton Corporation PLC
ETN
▲ PositiveDemandrelevance

ChargePoint highlighted its partnership with Eaton as a growth driver, indicating potential demand for Eaton's products.

Mercedes-Benz Group AG
MBG
▲ PositiveDemandrelevance

ChargePoint highlighted its partnership with Mercedes-Benz as a growth driver, indicating potential demand for Mercedes-Benz's vehicles.

Theme Impact 1

Off-coverage companies 1

Cox AutomotivePrivate± Mixed
relevance

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