EVGO Stock Forecast is $11

EVGO Stock Forecast is $11

EVGO Stock Forecast for the next 12 months is $11


Latest EVGO Price

EVgo Stock Forecast: Performance Chart

Stock Name1 MonthYTD
EVgo Inc-18.25%-32.96%

EVGO Stock Forecast: Latest News

  1. Evgo deal with JP Morgan, Goldman Sachs, and Evercore group: The company agreed with JP Morgan, Goldman Sachs, and Evercore group to sell its shares worth up to $200 million of class A common stock. It intends to use the funds for general corporate purposes.
  2. Evgo’s deal with Subaru: Evgo entered into a deal with Subaru to provide a $400 charging credit to customers who buy a 2023 Solterra EV SUV.
  3. EVgo partnership with MHX: EVgo has partnered with MHX (logistics operator in California) to provide MHX with charging infrastructure in Fontana, California along with 24/7 support through EVgo Optima and EV gold solutions to support its first-ever fleet electrification project. This partnership also features high-power 350kW fast chargers.

There is no distinguishing factor between companies in the EV charging segment. Although there is a push from the government the underlying problems with the sector remain intact.

EVgo is doing its bit in form of making possible partnerships with General Motors and Pilot and Flying J, but investors should avoid this penny stock till it becomes profitable.

Also read: Lucid Stock Forecast

EVGO Stock Forecast: 12-Month Forecast

Average EVGO Stock Forecast for the next 12 Months$11
Credit Suisse Group$12
Cowen$10
JP Morgan Chase & Co.$10
Citigroup$10
Cantor Fitzerald$14

EVGO Stock Forecast: Q3 Results

  • EVGO released its Quarter 3 (which ended on September 30, 2022) results on 3rd November 2022.
  • The company’s total revenues were declared as $10.5 million, up 70% Y-o-Y.
  • Operating expenses increased by 59.9% Y-o-Y and were reported as $50.6 million.
  • The company’s operating income decreased by 57.5% over a year and was reported as -$40 million.
  • Its net income was -$13.2 million.
  • Revenue per share was $0.15, up 66.2% Y-o-Y.
  • Diluted earnings per share (EPS) were declared as -$0.19.
  • Its adjusted EBITDA is -22.2m.

Future Outlook for EVgo Inc

  • If we look at valuations, although EV charging companies are unprofitable, they are still trading at very high valuations. EVgo is trading at price to sales ratio (P/S) of 185 whereas other companies like ChargePoint are trading at price to sales ratio of only 45 and Blink Charging stock is trading at a P/S ratio of 110. Therefore, EVgo is not a buy from a valuation perspective.
  • There is a mix of positive and negative news for EVgo with the infrastructure bill in the pipeline and recent partnership, but still, it could not attract analysts and they have termed it a euphoric state citing stiff completion.
  • Firstly, it is to be acknowledged that EVgo is taking the right steps for future growth and valuations will be justified only with a growth trajectory. With Government impetus and the right strategy, EVgo can leap forward in the future and stock can give much-expected returns. 

EVGO Stock Forecast Today

Overall OutlookPartially Positive
1. Market's WisdomPositive
1a. Market DataPartially Positive
1b. Technical RecommendationBuy
2. Crowd's WisdomNeutral
2a. Social Media BuzzNeutral
2b. Social Media SentimentNeutral

-Vineet Agarwal

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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EVgo Stock Forecast is $11
Subhash

Subhash

Subhash, Founder of Crowdwisdom360 is an MBA and a Trained Financial Advisor with an extensive background in Forecasting in Financial Services and Politics. He has appeared many times on National TV and has written for a variety of magazines on Wealth Management and Election Strategy.

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