EVgo Inc. (NASDAQ:EVGO) Receives $6.24 Consensus Target Price from Analysts

Key Points

• EVgo Inc. has received an average consensus recommendation of "Buy" from twelve research firms, with a target price of $6.2375 over the next 12 months.
• The company reported a revenue increase of 47.1% year-over-year, with earnings per share coming in at ($0.10), beating analysts' estimates.
• Institutional investors have shown significant interest in EVgo, increasing their holdings and now owning 17.44% of the company's stock.

Shares of EVgo Inc. (NASDAQ:EVGO - Get Free Report) have been given an average rating of "Buy" by the twelve research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.2375.

A number of research analysts have recently weighed in on EVGO shares. Morgan Stanley lifted their price target on EVgo from $4.00 to $4.50 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. UBS Group lifted their price target on EVgo from $5.00 to $5.40 and gave the company a "buy" rating in a report on Wednesday, August 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its holdings in shares of EVgo by 27.8% during the second quarter. Ameritas Investment Partners Inc. now owns 13,089 shares of the company's stock valued at $48,000 after buying an additional 2,847 shares in the last quarter. Rhumbline Advisers grew its stake in EVgo by 2.5% in the first quarter. Rhumbline Advisers now owns 152,281 shares of the company's stock valued at $405,000 after purchasing an additional 3,740 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in EVgo by 5.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,588 shares of the company's stock valued at $351,000 after purchasing an additional 4,597 shares in the last quarter. Arizona State Retirement System grew its stake in EVgo by 20.1% in the first quarter. Arizona State Retirement System now owns 35,481 shares of the company's stock valued at $94,000 after purchasing an additional 5,945 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in EVgo by 51.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,695 shares of the company's stock valued at $68,000 after purchasing an additional 6,320 shares in the last quarter. Hedge funds and other institutional investors own 17.44% of the company's stock.

EVgo Stock Performance

Shares of EVGO stock traded up $0.17 on Wednesday, reaching $4.11. 4,122,064 shares of the company's stock traded hands, compared to its average volume of 3,194,689. EVgo has a 12-month low of $2.19 and a 12-month high of $9.07. The company has a market capitalization of $1.26 billion, a P/E ratio of -10.02 and a beta of 2.34. The business's 50 day moving average price is $3.73 and its two-hundred day moving average price is $3.39.

EVgo (NASDAQ:EVGO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.03. The business had revenue of $98.03 million for the quarter, compared to analysts' expectations of $86.15 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. The business's quarterly revenue was up 47.1% compared to the same quarter last year. EVgo has set its FY 2025 guidance at EPS. Research analysts predict that EVgo will post -0.45 earnings per share for the current year.

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.