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Investing.com - Blink Charging Co. (NASDAQ:BLNK) received a reiterated Buy rating and $2.00 price target from Benchmark on Tuesday. According to InvestingPro data, the stock appears undervalued at current levels, with shares showing strong momentum, gaining nearly 13% in the past week despite falling 51% over the last year.
The electric vehicle charging company reported second-quarter revenue of $28.7 million, representing a 38% increase quarter-over-quarter and a 14% year-over-year rise. This figure exceeded consensus estimates of approximately $22 million, driven by rebounding product sales and record service revenues. InvestingPro analysis shows the company maintains a healthy current ratio of 2.15, indicating strong short-term liquidity, though it’s currently experiencing rapid cash burn.
Product sales jumped 73% quarter-over-quarter to $14.5 million, while service revenues reached a record level, growing 46% year-over-year to $11.8 million. The company’s reported gross profit was $2.1 million, reflecting a 7% margin.
Benchmark noted that the gross profit figure was significantly impacted by $6.4 million in non-cash charges related to obsolete inventory and project impairments. Excluding these charges, gross profit would have been $8.5 million with an approximate 30% margin, aligning with historical performance.
Blink Charging reaffirmed its commitment to driving sequential revenue growth in the second half of 2025 while optimizing cost structures through its Blink Forward initiative, aiming to maintain approximately 30% adjusted gross margins and progress toward profitability. InvestingPro subscribers can access 13 additional key insights and a comprehensive Pro Research Report, offering detailed analysis of BLNK’s financial health, valuation metrics, and growth prospects among 1,400+ top stocks.
In other recent news, Blink Charging Co. reported its second-quarter 2025 financial results, revealing a revenue of $28.7 million, which exceeded the forecast of $25.19 million. Despite this revenue beat, the company reported an earnings per share (EPS) loss of $0.26, which was larger than the anticipated loss of $0.16. Revenue from company-owned charging stations increased to $7.7 million, up from $4.9 million in the same period last year, although overall quarterly revenue saw a 14% year-over-year decline. H.C. Wainwright has reiterated its Buy rating for Blink Charging, maintaining a price target of $5, following these results. Meanwhile, Needham has maintained a Hold rating, noting a balanced outlook due to improving fundamentals and ongoing structural challenges in the EV charging sector. The research firm highlighted Blink Charging’s sequential growth, shift toward higher-quality recurring revenues, and strategic acquisitions. These developments reflect a mix of positive and challenging aspects for the company.
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