![]() ![]() ![]() The company reported a 56% YoY increase in revenue for Q1 2023, with strong recurring subscription revenue growth and an improved gross margin. With possibilities for further penetration in the US and Europe, sustained revenue growth is anticipated.ĬhargePoint Holdings (CHPT) stock has also been in a correction mode but has shown a 10% upward trend in the last four weeks, indicating a possible bottoming out. The company reported a 121% revenue growth in Q1 2023, driven by the deployment, contracting, or sale of 6,461 charging stations. Additionally, operating leverage is expected to lead to meaningful margin improvement, making it an opportune time to invest in EV charging stocks.Īmong the top picks, Blink Charging (BLNK) stock has seen a 66% slump in the last year but currently presents an attractive opportunity for accumulation. This indicates that there is still ample room for growth for EV charging companies.ĭespite increasing competition, the addressable market is large enough to accommodate multiple players. Similarly, Europe will need at least 3.4 million public charging stations by 2030, a significant increase from the current 375,000. ![]() In the United States, the number of electric vehicle charging points is expected to increase by nearly 10 times to 35 million by 2030. One key factor to consider is the potential for growth in the industry. However, these stocks are now trading at attractive levels, presenting an opportunity for investors to consider some of the top picks in the EV charging space. The past year and a half has been challenging for EV charging stocks, experiencing a significant bear market after a strong rally in 2020. ![]()
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