Royal Bank Of Canada Lowers EVgo (NASDAQ:EVGO) Price Target to $2.50

Key Points

• Royal Bank of Canada lowered EVgo’s price target from $3.00 to $2.50 but maintained an “outperform” rating, implying roughly 64% upside from the stock’s $1.52 price.
• Analyst sentiment remains mixed: EVgo has an average “Hold” rating and a consensus price target of $4.60, with five Buy, one Hold, and two Sell ratings.
• EVgo beat quarterly loss expectations with an adjusted loss of $0.15 per share, but revenue fell 15.7% year over year to $82.65 million; the company’s stock remains near its one-year low and carries significant leverage.

EVgo (NASDAQ:EVGO - Get Free Report) had its price objective decreased by analysts at Royal Bank Of Canada from $3.00 to $2.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective points to a potential upside of 63.93% from the stock's current price.

Several other equities research analysts also recently issued reports on EVGO. Weiss Ratings restated a "sell (e+)" rating on shares of EVgo in a research note on Wednesday, July 15th. Wall Street Zen cut shares of EVgo from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 9th. Cantor Fitzgerald decreased their target price on EVgo from $4.00 to $3.00 and set an "overweight" rating on the stock in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of EVgo in a report on Wednesday. Finally, JPMorgan Chase & Co. restated an "underweight" rating on shares of EVgo in a research report on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, EVgo presently has an average rating of "Hold" and an average target price of $4.60.

EVgo Stock Performance

Shares of EVgo stock traded down $0.01 during trading on Thursday, reaching $1.52. The company's stock had a trading volume of 2,367,962 shares, compared to its average volume of 4,054,471. EVgo has a one year low of $1.41 and a one year high of $5.18. The company has a debt-to-equity ratio of 5.39, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $478.64 million, a price-to-earnings ratio of -4.39 and a beta of 2.82. The business's fifty day moving average price is $1.86 and its 200-day moving average price is $2.17.

EVgo (NASDAQ:EVGO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.03. The business had revenue of $82.65 million during the quarter. The firm's revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.10) earnings per share. As a group, equities research analysts predict that EVgo will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of EVgo by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company's stock worth $58,651,000 after acquiring an additional 157,376 shares in the last quarter. State Street Corp boosted its holdings in shares of EVgo by 59.3% during the fourth quarter. State Street Corp now owns 6,346,462 shares of the company's stock worth $18,468,000 after acquiring an additional 2,362,435 shares during the period. Millennium Management LLC increased its stake in shares of EVgo by 25.9% during the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company's stock worth $15,480,000 after purchasing an additional 1,195,470 shares during the period. Soros Fund Management LLC grew its holdings in EVgo by 12.5% in the 4th quarter. Soros Fund Management LLC now owns 4,500,000 shares of the company's stock valued at $13,095,000 after buying an additional 500,000 shares in the last quarter. Finally, Invesco Ltd. increased its position in EVgo by 111.0% during the 4th quarter. Invesco Ltd. now owns 4,424,683 shares of the company's stock worth $12,876,000 after buying an additional 2,327,545 shares during the period. 17.44% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: New Tesla-based fast chargers expand EVgo’s network. EVgo plans to deploy EVgo-branded Tesla V4 Superchargers across U.S. metropolitan areas. The chargers can deliver up to 500 kW and 1,000 volts, potentially improving charging speed, broadening vehicle compatibility through Magic Dock, and increasing EVgo’s addressable customer base. EVgo Expands Fast Charging in the U.S. with Supercharger Deployment
• Positive Sentiment: Charging-network fundamentals remained strong. Q2 charging-network revenue rose 19% year over year to $61 million, marking the 18th consecutive quarter of double-digit growth. Network throughput increased 13% to 99 gigawatt-hours. EVgo also outlined a path toward approximately $500 million in adjusted EBITDA by 2030. EVgo Inc. Reports Second Quarter 2026 Results
• Positive Sentiment: EVgo beat quarterly loss expectations. The company reported a Q2 loss of $0.15 per share, better than the $0.18 consensus estimate. Planned expansion with Brixmor could add more than 500 charging stalls at shopping centers, while the Pilot-GM-EVgo network has reached 300 locations nationwide.
• Neutral Sentiment: Analyst sentiment is mixed. Cantor Fitzgerald lowered its price target from $4 to $3 but retained an “overweight” rating, implying substantial upside from recent levels. Needham reaffirmed its “hold” rating, signaling uncertainty about the pace of EVgo’s improvement.
• Negative Sentiment: Revenue and guidance disappointed. Total Q2 revenue was $82.65 million, down 15.7% year over year, despite growth in charging-network revenue. EVgo’s FY 2026 revenue outlook of $400 million-$430 million is below the approximately $433 million analyst consensus, weighing on near-term growth expectations. The quarterly loss also widened from $0.10 per share a year earlier. EVgo Reports Q2 Loss, Tops Revenue Estimates

EVgo Company Profile

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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