Shares of EVgo (NASDAQ:EVGO) fell today after it reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at -$0.18, which beat analysts’ consensus estimate of -$0.19 per share. Sales increased by 228.6% year-over-year, with revenue hitting $25.3 million. This was $1.5 million below expectations.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Looking forward, management expects revenue and adjusted EBITDA for Fiscal Year 2023 to be in the ranges of $105 million to $150 million and -$78 million to -$60 million, respectively. For reference, analysts were expecting $138.8 million in revenue and -$79.755 million in EBITDA.
Overall, Wall Street analysts have a consensus price target of $10.25 per share on EVGO stock, implying over 73% upside potential, as indicated by the graphic above.