Analysts Set Price Target of $5.90 for EVgo Inc. Shares

Shares of EVgo Inc. (NASDAQ: EVGO) have received a consensus rating of “Moderate Buy” from nine analysts currently covering the company, according to data from MarketBeat.com. Among these analysts, one has issued a sell recommendation, two have assigned a hold rating, and six have opted for a buy recommendation. The average price target over the next year stands at $5.81.

Recent analyst reports have highlighted varying perspectives on the stock. In a report dated November 17, Cantor Fitzgerald reaffirmed an “overweight” rating for EVgo. Meanwhile, Weiss Ratings maintained a “sell (d-)” rating on October 8. On November 11, UBS Group raised its price target for EVgo from $5.40 to $5.90, also assigning a buy rating. Earlier, on August 6, Morgan Stanley increased its price objective from $4.00 to $4.50 and classified the stock as “equal weight.”

EVgo’s Market Position and Recent Performance

As of Monday, EVgo shares opened at $3.16. Over the past year, the shares have fluctuated between a low of $2.19 and a high of $7.15. The company currently holds a market capitalization of $973.22 million, with a price-to-earnings ratio of -8.10 and a beta of 2.35. The fifty-day moving average for the stock is $4.02, while the two-hundred day moving average stands at $3.90.

EVgo’s latest quarterly earnings report was released on November 10, revealing earnings per share (EPS) of ($0.09), surpassing analyst expectations of ($0.18) by $0.09. The firm reported revenues of $92.30 million for the quarter, slightly below the consensus estimate of $94.42 million. Year-over-year, the company has seen a revenue increase of 36.7%. For the current fiscal year, analysts project an EPS of ($0.45).

About EVgo Inc.

EVgo, Inc. operates a direct current fast-charging network for electric vehicles (EVs) across the United States. The company provides electricity directly to drivers through its publicly accessible networked chargers. In addition to individual charging services, EVgo also offers fleet and rideshare charging solutions, OEM charging services, and tailored charging services for dedicated fleets.

The performance and future outlook of EVgo continue to attract significant attention from both analysts and investors, reflecting the growing interest in the EV market.