EVgo (NASDAQ:EVGO) Given New $4.50 Price Target at Royal Bank Of Canada

EVgo (NASDAQ:EVGO) had its price target lowered by analysts at Royal Bank Of Canada from $7.00 to $4.50 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 82.19% from the stock’s current price.

A number of other brokerages have also weighed in on EVGO. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a report on Thursday, January 22nd. Cantor Fitzgerald dropped their target price on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price target on EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group lifted their price objective on EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Benchmark restated a “buy” rating on shares of EVgo in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.27.

EVgo Price Performance

Shares of NASDAQ:EVGO traded down $0.21 during midday trading on Wednesday, reaching $2.47. The company’s stock had a trading volume of 2,015,777 shares, compared to its average volume of 3,545,203. The business’s fifty day simple moving average is $3.00 and its 200-day simple moving average is $3.55. EVgo has a fifty-two week low of $2.30 and a fifty-two week high of $5.18. The company has a market capitalization of $760.71 million, a P/E ratio of -6.33 and a beta of 2.63.

EVgo (NASDAQ:EVGO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $118.47 million for the quarter. The firm’s revenue was up 75.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.11) earnings per share. On average, analysts forecast that EVgo will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in EVgo by 1.3% during the third quarter. Vanguard Group Inc. now owns 12,399,808 shares of the company’s stock valued at $58,651,000 after purchasing an additional 157,376 shares during the period. State Street Corp boosted its position 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 purchasing an additional 2,362,435 shares in the last quarter. Millennium Management LLC boosted its position 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 in the last quarter. Soros Fund Management LLC grew its holdings in shares of EVgo by 342.2% in the 2nd quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock valued at $18,166,000 after buying an additional 3,851,583 shares during the period. Finally, Invesco Ltd. increased its position in shares of EVgo by 111.0% in the 4th quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock valued at $12,876,000 after buying an additional 2,327,545 shares in the last quarter. Institutional investors own 17.44% of the company’s stock.

EVgo News Roundup

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q4 beats: EVgo reported Q4 revenue of $118.5M (up 75% YoY) and EPS of ($0.04), beating consensus—driving an initial stock uptick after the results. Q4 press release
• Positive Sentiment: Network expansion: Management is accelerating NACS rollout and targeting 1,400–1,650 new stalls in 2026, signaling faster unit growth and network revenue scaling that supports longer‑term revenue visibility. Expansion article
• Positive Sentiment: Analyst support remains constructive: Cantor Fitzgerald and Stifel kept overweight/buy ratings despite trimming price targets, implying continued analyst conviction in upside potential (new PTs of $6.00 and $7.00 respectively). Analyst notes
• Neutral Sentiment: Coverage and summaries: Multiple outlets summarized the beat and call (earnings transcript, MarketBeat and Zacks coverage), providing detail for investors but no new catalysts beyond the results. Earnings summary
• Neutral Sentiment: Consensus rating: Brokerages show a consensus of “Moderate Buy,” reflecting mixed but generally positive sell‑side sentiment. Consensus note
• Neutral Sentiment: Short‑interest data reported appears inconsistent (zero shares / 0.0 days-to-cover) and likely reflects a data anomaly rather than a real short‑squeeze signal; treat with caution. (No reliable link available.)
• Negative Sentiment: FY‑2026 guidance disappointed vs. Street: EVgo guided revenue to $410–$470M versus consensus near ~$481M, and issued an adjusted EBITDA range that implies modest near‑term profitability risk—this trimmed some of the post‑earnings upside. Company presentation

About EVgo

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.