Why Modular Medical Shares Are Trading Higher By Around 29%; Here Are 20 Stocks Moving Premarket
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 05 2024
0mins
Source: Benzinga
Modular Medical's Stock Surge: Modular Medical, Inc. shares rose 29.1% to $2.53 in pre-market trading following FDA clearance of its MODD1 insulin pump.
Pre-Market Trading Highlights: Other notable stock movements included Eastside Distilling gaining 177.2% due to a merger announcement, while C3.ai saw an 18.7% decline after disappointing first-quarter results.
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Analyst Views on CHPT
Wall Street analysts forecast CHPT stock price to rise
8 Analyst Rating
0 Buy
6 Hold
2 Sell
Hold
Current: 7.610
Low
5.00
Averages
8.42
High
11.00
Current: 7.610
Low
5.00
Averages
8.42
High
11.00
About CHPT
ChargePoint Holdings, Inc. is a provider of electric vehicle (EV) charging technology solutions. The Company is driving the transition to electric mobility across North America and Europe. It offers a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Its hardware, software, and services are designed to scale alongside the EV ecosystem, serving the needs of three core customer groups: Charge Point Operators (CPOs), e-Mobility Service Providers, and EV drivers. Its portfolio includes Networked Charging System Portfolio, Advanced ChargePoint Platform, ChargePoint CMS Service, ChargePoint eMSP Service, ChargePoint Mobile App and ChargePoint Services and Support Portfolio. It powers over 342,000 active charging ports.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
ChargePoint Q1 Revenue Exceeds Expectations with Strategic Growth Initiatives
- Revenue Growth: ChargePoint reported Q1 revenue of $102 million, exceeding the upper end of its guidance range and marking a 4% year-over-year increase, indicating the company's sustained growth potential in the electric vehicle charging market.
- Strong Gross Margins: The non-GAAP gross margin stood at 32%, up 1 percentage point year-over-year, reflecting the company's successful strategies in pricing discipline and operational efficiency, which contribute to overall profitability.
- Cash Flow Position: ChargePoint ended the quarter with $96 million in cash, facing high cash usage pressures, yet maintaining a solid liquidity position to support future investments and operations.
- Product Innovation Driving Growth: The introduction of the Express Solo, the world's fastest stand-alone DC charger, is expected to drive future growth due to its high power density and compact design, further solidifying the company's competitive edge in the market.
See More
ChargePoint Exceeds Q1 Revenue Guidance with Strong Growth
- Revenue Growth Highlight: ChargePoint reported Q1 revenue of $102 million, exceeding the upper end of guidance and marking the third consecutive quarter of year-over-year growth, showcasing the company's strong performance in the EV charging market.
- Strong Margin Maintenance: Non-GAAP gross margin remained robust at 32%, with expectations for overall margins to reach new highs as new products enter the market, indicating ongoing improvements in profitability.
- Leadership Change: The company appointed Jyothi Swaroop as Chief Marketing and Growth Officer to lead global market strategy, aiming to drive business growth through new leadership and enhance competitive positioning.
- Optimistic Future Outlook: The CFO projected Q2 revenue between $100 million and $110 million, representing a 7% year-over-year growth, emphasizing a continued focus on improving operating leverage and accelerating the path to profitability.
See More
ChargePoint (CHPT) Q1 2027 Earnings Transcript
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ChargePoint Holdings Earnings Snapshot and Rating Upgrade
- Earnings Preview: ChargePoint Holdings is set to release its Q1 2027 earnings, with market expectations high due to the increasing demand for electric vehicle charging infrastructure, which is anticipated to drive revenue growth for the company.
- Rating Upgrade: Seeking Alpha has upgraded its quant rating on ChargePoint Holdings, reflecting analysts' increased confidence in the company's future performance, which may attract more investor interest and potentially boost the stock price.
- Index Changes Impact: FuelCell Energy is set to join the Russell 3000 Index while New Fortress Energy will exit, a shift that could affect ChargePoint Holdings' market positioning and investor attention, particularly amid the rapid growth in the electric vehicle sector.
- Historical Earnings Data: The historical financial data for ChargePoint Holdings will provide investors with crucial insights to assess the company's growth potential and market competitiveness, especially as the electric vehicle charging sector continues to expand.
See More
ChargePoint Q1 Earnings Exceed Expectations
- Earnings Highlights: ChargePoint reported a Q1 GAAP EPS of -$1.75, beating expectations by $0.11, indicating a positive trend in improving profitability despite remaining in the red.
- Revenue Growth: The company achieved revenue of $102 million, a 4.5% year-over-year increase, surpassing market expectations by $6.15 million, reflecting sustained demand in the electric vehicle charging market.
- Future Guidance: ChargePoint expects revenue for Q2 of fiscal 2027 to be between $100 million and $110 million, below the consensus estimate of $102.78 million, which may indicate cautious market sentiment regarding future growth.
- Market Dynamics: ChargePoint's rating has been upgraded, enhancing market expectations for its recovery, particularly against the backdrop of rapid growth in the electric vehicle sector, potentially opening new investment opportunities for the company.
See More
ChargePoint Holdings to Announce Q1 Earnings on June 3
- Earnings Announcement: ChargePoint Holdings is set to release its Q1 2023 earnings report on June 3 after market close, with consensus EPS estimate at -$1.01 and revenue estimate at $95.85 million, reflecting a 1.8% year-over-year decline.
- Performance Expectations: Over the past year, ChargePoint has failed to beat EPS estimates 0% of the time and has only surpassed revenue estimates 25%, indicating ongoing challenges in profitability.
- Estimate Revision Trends: In the last three months, ChargePoint's EPS estimates have seen 2 upward revisions and no downward revisions, while revenue estimates have experienced no upward revisions and 4 downward revisions, suggesting a weakening market confidence in its future performance.
- Market Index Changes: ChargePoint is set to join the Russell Microcap index, while FuelCell Energy will enter the Russell 3000 index, reflecting an increased market focus on ChargePoint despite its financial performance needing improvement.
See More
ChargePoint Q1 Revenue Exceeds Expectations with Strategic Growth Initiatives
- Revenue Growth: ChargePoint reported Q1 revenue of $102 million, exceeding the upper end of its guidance range and marking a 4% year-over-year increase, indicating the company's sustained growth potential in the electric vehicle charging market.
- Strong Gross Margins: The non-GAAP gross margin stood at 32%, up 1 percentage point year-over-year, reflecting the company's successful strategies in pricing discipline and operational efficiency, which contribute to overall profitability.
- Cash Flow Position: ChargePoint ended the quarter with $96 million in cash, facing high cash usage pressures, yet maintaining a solid liquidity position to support future investments and operations.
- Product Innovation Driving Growth: The introduction of the Express Solo, the world's fastest stand-alone DC charger, is expected to drive future growth due to its high power density and compact design, further solidifying the company's competitive edge in the market.
See More
ChargePoint Exceeds Q1 Revenue Guidance with Strong Growth
- Revenue Growth Highlight: ChargePoint reported Q1 revenue of $102 million, exceeding the upper end of guidance and marking the third consecutive quarter of year-over-year growth, showcasing the company's strong performance in the EV charging market.
- Strong Margin Maintenance: Non-GAAP gross margin remained robust at 32%, with expectations for overall margins to reach new highs as new products enter the market, indicating ongoing improvements in profitability.
- Leadership Change: The company appointed Jyothi Swaroop as Chief Marketing and Growth Officer to lead global market strategy, aiming to drive business growth through new leadership and enhance competitive positioning.
- Optimistic Future Outlook: The CFO projected Q2 revenue between $100 million and $110 million, representing a 7% year-over-year growth, emphasizing a continued focus on improving operating leverage and accelerating the path to profitability.
See More
ChargePoint (CHPT) Q1 2027 Earnings Transcript
See More
ChargePoint Holdings Earnings Snapshot and Rating Upgrade
- Earnings Preview: ChargePoint Holdings is set to release its Q1 2027 earnings, with market expectations high due to the increasing demand for electric vehicle charging infrastructure, which is anticipated to drive revenue growth for the company.
- Rating Upgrade: Seeking Alpha has upgraded its quant rating on ChargePoint Holdings, reflecting analysts' increased confidence in the company's future performance, which may attract more investor interest and potentially boost the stock price.
- Index Changes Impact: FuelCell Energy is set to join the Russell 3000 Index while New Fortress Energy will exit, a shift that could affect ChargePoint Holdings' market positioning and investor attention, particularly amid the rapid growth in the electric vehicle sector.
- Historical Earnings Data: The historical financial data for ChargePoint Holdings will provide investors with crucial insights to assess the company's growth potential and market competitiveness, especially as the electric vehicle charging sector continues to expand.
See More
ChargePoint Q1 Earnings Exceed Expectations
- Earnings Highlights: ChargePoint reported a Q1 GAAP EPS of -$1.75, beating expectations by $0.11, indicating a positive trend in improving profitability despite remaining in the red.
- Revenue Growth: The company achieved revenue of $102 million, a 4.5% year-over-year increase, surpassing market expectations by $6.15 million, reflecting sustained demand in the electric vehicle charging market.
- Future Guidance: ChargePoint expects revenue for Q2 of fiscal 2027 to be between $100 million and $110 million, below the consensus estimate of $102.78 million, which may indicate cautious market sentiment regarding future growth.
- Market Dynamics: ChargePoint's rating has been upgraded, enhancing market expectations for its recovery, particularly against the backdrop of rapid growth in the electric vehicle sector, potentially opening new investment opportunities for the company.
See More
ChargePoint Holdings to Announce Q1 Earnings on June 3
- Earnings Announcement: ChargePoint Holdings is set to release its Q1 2023 earnings report on June 3 after market close, with consensus EPS estimate at -$1.01 and revenue estimate at $95.85 million, reflecting a 1.8% year-over-year decline.
- Performance Expectations: Over the past year, ChargePoint has failed to beat EPS estimates 0% of the time and has only surpassed revenue estimates 25%, indicating ongoing challenges in profitability.
- Estimate Revision Trends: In the last three months, ChargePoint's EPS estimates have seen 2 upward revisions and no downward revisions, while revenue estimates have experienced no upward revisions and 4 downward revisions, suggesting a weakening market confidence in its future performance.
- Market Index Changes: ChargePoint is set to join the Russell Microcap index, while FuelCell Energy will enter the Russell 3000 index, reflecting an increased market focus on ChargePoint despite its financial performance needing improvement.
See More
