EVgo Isn't Going Anywhere Fast [Seeking Alpha]
EVgo Inc. (EVGO)
Company Research
Source: Seeking Alpha
Macroeconomic factors such as high inflation, layoffs, and consumer preferences for plug-in hybrid vehicles may work against EVgo in the near term. The cost of fueling and insuring EVs may deter future or repeat EV customers and could impact EVgo's growth trajectory. EVgo ( NASDAQ: EVGO ) reported a significantly strong Q4'23 at the top line with revenue growing by 42% sequentially, a strong continuation of their upward trend. Management appeared very optimistic on the scaling effect of the firm's business model, in which installed charging stations are said to cover the cost to operate net of corporate costs. Despite the optimism, I believe that the macro headwinds in place may be working against EVgo, at least in the near-term, as consumers continue to grapple with high inflation, new waves of corporate layoffs, and shifting consumer preferences in favor of plug-in hybrid vehicles. I maintain my SELL recommendation for EVGO shares, with a price target of $2.31/share at the aver
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EVGO
News
- EVgo to Report First Quarter 2024 Results on May 7, 2024 [Yahoo! Finance]Yahoo! Finance
- EVgo to Report First Quarter 2024 Results on May 7, 2024Business Wire
- EVgo Expands Autocharge+ to More Than 50 Electric Vehicle Models [Yahoo! Finance]Yahoo! Finance
- EVgo Expands Autocharge+ to More Than 50 Electric Vehicle ModelsBusiness Wire
- EVgo, Inc. (NYSE: EVGO) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $4.00 price target on the stock.MarketBeat
EVGO
Earnings
- 3/6/24 - Beat
EVGO
Sec Filings
- 4/3/24 - Form ARS
- 4/3/24 - Form DEFA14A
- 4/3/24 - Form DEF
- EVGO's page on the SEC website