Cantor Fitzgerald Issues Pessimistic Forecast for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO) had its price objective lowered by Cantor Fitzgerald from $4.00 to $3.00 in a research note issued on Thursday, Marketbeat reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 85.19% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada dropped their price target on shares of EVgo from $4.50 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. restated an “underweight” rating on shares of EVgo in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of EVgo in a report on Wednesday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of EVgo in a research report on Wednesday. Finally, Wall Street Zen lowered EVgo from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.18.

EVgo Price Performance

Shares of NASDAQ:EVGO opened at $1.62 on Thursday. The firm’s 50 day moving average price is $1.83 and its 200-day moving average price is $2.16. EVgo has a twelve month low of $1.41 and a twelve month high of $5.18. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 5.39. The stock has a market capitalization of $508.45 million, a PE ratio of -4.05 and a beta of 2.82.

EVgo (NASDAQ:EVGO) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.03. The business had revenue of $82.65 million during the quarter. The company’s revenue was down 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. Equities research analysts expect that EVgo will post -0.51 EPS for the current year.

Hedge Funds Weigh In On EVgo

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of EVgo by 1,188.1% in the first quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock worth $1,316,000 after buying an additional 456,201 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in EVgo by 31.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock worth $222,000 after purchasing an additional 19,883 shares during the last quarter. Millennium Management LLC raised its stake in EVgo by 25.9% during the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock valued at $15,480,000 after purchasing an additional 1,195,470 shares in the last quarter. Creative Planning raised its stake in EVgo by 56.4% during the second quarter. Creative Planning now owns 44,353 shares of the company’s stock valued at $162,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in EVgo by 53.0% during the second quarter. Cetera Investment Advisers now owns 43,183 shares of the company’s stock valued at $158,000 after purchasing an additional 14,958 shares during 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: EVgo plans to deploy EVgo-branded Tesla V4 Superchargers across its U.S. network under license. The chargers can reportedly deliver up to 500 kW and use Tesla’s Magic Dock, potentially improving charging speed, vehicle compatibility and network utilization. EVgo Will Install Tesla Superchargers At Its Charging Stations
• Positive Sentiment: Management outlined a path toward approximately $500 million in adjusted EBITDA by 2030, supported by network growth and the new Tesla-charger initiative. The target provides a long-term profitability narrative for investors, although execution remains important. EVgo outlines path to approximately $0.5 billion adjusted EBITDA by 2030
• Neutral Sentiment: Needham reiterated a “Hold” rating, signaling that the firm sees limited near-term justification for a more bullish stance despite EVgo’s strategic initiatives. Needham reiterates Hold rating for EVgo
• Negative Sentiment: Royal Bank of Canada lowered its price target from $3.00 to $2.50, while maintaining an “Outperform” rating. The reduced target reflects more cautious valuation assumptions, even though it remains above the current share price. EVgo price target lowered to $2.50 at Royal Bank of Canada
• Negative Sentiment: Cantor Fitzgerald cut its target from $4.00 to $3.00 but retained an “Overweight” rating. Multiple target reductions may weigh on sentiment by highlighting valuation and execution concerns. EVgo price target cut to $3.00 by Cantor Fitzgerald

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.