Why Is ChargePoint (CHPT) Stock Down 32% Today?
ChargePoint (CHPT) stock is falling on Friday after releasing preliminary Q3 data.
The EV charging company’s revenue is set to disappoint investors.
It also plans to update guidance for the fiscal year when its earnings report comes out on Dec. 6.
The EV charging company’s revenue is set to disappoint investors.
It also plans to update guidance for the fiscal year when its earnings report comes out on Dec. 6.
ChargePoint stock is sliding lower on Friday after the electric vehicle (EV) charging company released preliminary earnings data for the third quarter.
The bad news for CHPT stock comes from its preliminary revenue estimate of $108 million to $113 million. That would see it easily miss Wall Street’s expectation of $157.35 million in revenue for the quarter. Additionally, this is a drop from its prior guidance of $150 million to $165 million.
The bad news for CHPT stock comes from its preliminary revenue estimate of $108 million to $113 million. That would see it easily miss Wall Street’s expectation of $157.35 million in revenue for the quarter. Additionally, this is a drop from its prior guidance of $150 million to $165 million.
What’s Next for CHPT Stock?
Investors will want to keep an eye on ChargePoint as it expects to release its full earnings report for Q3 on Dec. 6. That will provide traders with a better insight into the company’s fiscal state. It’s also worth mentioning that ChargePoint intends to update Q4 and fiscal 2024 guidance during that report.
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