Latest news with #EVgo
Yahoo
23-06-2025
- Automotive
- Yahoo
Stifel Keeps Buy Rating on EVGO
EVgo, Inc. (NASDAQ:EVGO) is one of the 11 Best US Stocks to Invest in Under $5. On May 14, Stifel analysts maintained a 'Buy' rating on EVgo, Inc. (NASDAQ:EVGO) with a price target of $8.00. The analysts showed confidence in the company's strong performance based on the first-quarter 2025 results. A businessman plugging in to a public charging station, symbolizing the services provided by the company. Stifel analysts highlighted that EVgo, Inc. (NASDAQ:EVGO) has continued to exceed expectations and remains their top pick among US electric vehicle charging companies. The first quarter of 2025 showed promising signs, such as the likely retention of a Department of Energy loan and expected better profit margins in the company's charging business. The analysts also pointed out that tariffs are expected to have little impact on EVgo, Inc.'s (NASDAQ:EVGO) plans to install new chargers in 2025. The company's management has also reiterated its guidance for 2025, which supports a stable outlook. While there is some concern about slower EV sales, Stifel analysts believe that the growing number of EVs on the road will increase the use and throughput of EVgo, Inc.'s (NASDAQ:EVGO) charging network. The growth in EV usage is seen as a key factor driving the company's future growth and performance. EVgo, Inc. (NASDAQ:EVGO) is an electric vehicle fast charging provider in the United States with over 1,100 fast charging stations across more than 40 states. While we acknowledge the potential of EVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Business Insider
18-06-2025
- Business
- Business Insider
EVgo (EVGO) Gets a Buy from Evercore ISI
Evercore ISI analyst James West maintained a Buy rating on EVgo (EVGO – Research Report) yesterday and set a price target of $4.00. The company's shares closed yesterday at $4.52. Confident Investing Starts Here: According to TipRanks, West is ranked #9438 out of 9595 analysts. The word on The Street in general, suggests a Strong Buy analyst consensus rating for EVgo with a $5.86 average price target, a 29.65% upside from current levels. In a report released yesterday, UBS also reiterated a Buy rating on the stock with a $5.00 price target. Based on EVgo's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $75.29 million and a GAAP net loss of $26.05 million. In comparison, last year the company earned a revenue of $55.16 million and had a GAAP net loss of $9.77 million Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EVGO in relation to earlier this year. Last month, DENNIS G KISH, the President of EVGO sold 120,000.00 shares for a total of $444,874.95.
Yahoo
16-06-2025
- Business
- Yahoo
Upland, EVgo, SoundHound AI, Xerox, and Monolithic Power Systems Shares Skyrocket, What You Need To Know
A number of stocks jumped in the afternoon session after the major indices rebounded (Nasdaq +1.5%, S&P 500 +1.0%) as reports pointed to easing tensions between Israel and Iran. The Wall Street Journal said senior Iranian officials had signaled a willingness to restart stalled nuclear talks, on the condition that Washington refrain from joining Israel's ongoing strikes. This development triggered a significant decline in oil prices, easing inflation concerns. Also, it is possible some investors were buying the dip following the sell-off at the end of the previous week. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Marketing Software company Upland (NASDAQ:UPLD) jumped 5.8%. Is now the time to buy Upland? Access our full analysis report here, it's free. Renewable Energy company EVgo (NASDAQ:EVGO) jumped 6.7%. Is now the time to buy EVgo? Access our full analysis report here, it's free. Automation Software company SoundHound AI (NASDAQ:SOUN) jumped 5.9%. Is now the time to buy SoundHound AI? Access our full analysis report here, it's free. Hardware & Infrastructure company Xerox (NASDAQ:XRX) jumped 5.9%. Is now the time to buy Xerox? Access our full analysis report here, it's free. Analog Semiconductors company Monolithic Power Systems (NASDAQ:MPWR) jumped 5.3%. Is now the time to buy Monolithic Power Systems? Access our full analysis report here, it's free. EVgo's shares are extremely volatile and have had 61 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 6 months ago when the stock dropped 27.9% after it announced a secondary offering of nearly 23 million of its common stock by EVgo Holdings, an affiliate of LS Power Equity Partners. The company did not sell any shares in this offering and was not expected to receive any proceeds from the sale. EVgo is up 9.1% since the beginning of the year, but at $4.57 per share, it is still trading 48.9% below its 52-week high of $8.94 from October 2024. Investors who bought $1,000 worth of EVgo's shares at the IPO in November 2020 would now be looking at an investment worth $465.78. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Auto Blog
04-06-2025
- Automotive
- Auto Blog
No More Broken Chargers? New Data Reveals Significant Improvements in Public EV Charging Since 2021
New J.D. Power data reported by Automotive News highlights that 84% of public electric vehicle (EV) charging attempts were successful within Q1, marking a 4% improvement on a failure rate that hovered around 20% for the last four years. A Driivz Q1 survey of 300 charge point operators and EV service providers cited vehicle-to-charger compatibility issues, faulty hardware or components, and charger-specific interoperability challenges as the most common roadblocks to a successful charging session. While chargers being out of service or malfunctioning is still the number one cause of failed public charging attempts, the improvement comes at a significant time. According to EV charging recruiter EVBoosters, the number of available charging stations has doubled across the U.S. since 2020, underscoring the importance of charge point operators providing consistent functionality—a goal that's also in their best financial interest. EVgo charger utilization also reached 24% in Q1, up 15% from two years earlier. Volvo EV SUV at Tesla Supercharger. — Source: Volvo Factors influencing the jump in public charger performance An increasing number of public EV charging providers are placing service quality before expansion through work like maintenance and repairs, partially because President Biden's National Electric Vehicle Infrastructure Program requires federally-funded chargers to be available and functioning 97% of the time. J.D. Power's data didn't highlight how many federally funded stations meet this 97% requirement, but EVgo users successfully charged 95% of the time during Q1. EVgo's success rate is partially attributed to upgrading, replacing, or decommissioning chargers at over 600 locations and in more than 20 states since 2022. Charge companies like Electrify America implemented idle fees and policies to reduce wait times, resulting in a 50% demand increase within their network, according to Automotive News. EV smartphone apps see room for improvement On the flip side, EV drivers are using charging companion mobile apps more than ever, but are experiencing connectivity issues, lagging remote command speed, and inconsistent feature performance, according to J.D. Power. Nearly one-third (32%) of non-Tesla app users use their EV app during every drive, up from 17% last year. EV drivers primarily use apps for charge monitoring, pre-conditioning, and route planning. Regarding connectivity, 37% of non-Tesla EV app users face issues with losing connection or delayed updates, a slight improvement from last year's 40%. However, many drivers aren't utilizing all of the features within those apps. Despite more than 70% of app users saying they want charge scheduling, trip planning with charging stops, and in-app payment, 43% of non-Tesla app users haven't scheduled a charge. Over 90% of EV app users prioritize features such as vehicle status and remote updates/diagnostics. The charger plugs of an EVgo charging station in Vienna, Virginia, February 13, 2023. — Source: SAUL LOEB/AFP via Getty Images Final thoughts While public EV charging isn't perfect in America, J.D. Power's recent data shows the industry is improving. This positive trend is likely to continue, given that charge point operators can become eligible for federal funding with high-efficiency rates. Additionally, any malfunctions cost them money, especially with the public's rising usage rate. Tesla's app ranks highest overall for user satisfaction, scoring 864/1,000. Mercedes-Benz and My BMW follow, ranking at 839/1,000 and 833/1,000, respectively. Still, states are navigating hurdles for public charging infrastructure growth, with plans for new federally-funded stations on hold as the Trump administration's Transportation Department and Federal Highway Administration reevaluate the program from Biden's presidency.
Yahoo
03-06-2025
- Automotive
- Yahoo
NC congressional delegation should support state's electric vehicle industry
An EVgo fast charging station charges a vehicle. (Photo: Loren Elliott for CalMatters) North Carolina's economy has undergone many important transitions over the last several decades. But in recent years there's been no more promising arrival on the scene than the electric vehicle industry. As experts at the national Electrification Coalition pointed out last week, federal EV tax credits have helped spur the creation of more than sixteen thousand jobs and over twenty billion dollars in investments in the state in recent years. And, of course, these are jobs and investments that are not only good for the state's economy, but for the world as it struggles to end its heroin-like addiction to fossil fuels. Unfortunately, the massive budget and tax bill approved by the U.S. House last week places all of this in jeopardy by eliminating several tax credits supporting the industry. The bottom line: Our nation currently spends hundreds of billions of dollars each year subsidizing the fossil fuel industry. The least North Carolina's congressional delegation can do is help to retain some modest subsidies for an industry of the future that helps our people and our planet. For NC Newsline, I'm Rob Schofield.
