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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $7.00 price target on EVgo, Inc. (NASDAQ:EVGO), maintaining a bullish long-term outlook on the electric vehicle charging network operator. Currently trading at $3.45 with a market capitalization of $1.06 billion, EVgo has shown significant price volatility, with its stock ranging between $2.19 and $9.07 over the past 52 weeks. According to InvestingPro analysis, the company demonstrates strong revenue growth potential despite current profitability challenges.
The firm cited EVgo’s growing utilization rate of approximately 22% in the second quarter of 2025, which it believes exceeds the industry average for public direct current fast chargers in North America. This metric provides validation of the company’s charging stall usage and reliability, according to Cantor Fitzgerald. The company’s impressive revenue growth of 45% in the last twelve months reflects this operational success, though InvestingPro data shows the company maintains a moderate debt level with a current ratio of 2.27, indicating healthy short-term liquidity.
EVgo added approximately 240 new direct current fast charging stalls in the second quarter, compared to 180 in the first quarter. The company now has 4,350 stalls in operation and has raised the lower end of its guidance for future deployments.
The updated targets for EVgo’s total public network stalls in operation are 5,000-5,150 for fiscal year 2026, 6,600-6,900 for fiscal year 2027, 9,400-9,800 for fiscal year 2028, and 13,800-14,400 for fiscal year 2029.
Cantor Fitzgerald believes the demand for EV charging currently outpaces the supply of chargers, positioning EVgo favorably within the industry. The firm also expects additional growth for the company from self-driving vehicles in the future and views current price levels as a good entry point for investors. Based on InvestingPro Fair Value analysis, EVgo appears undervalued at current levels. Subscribers can access 8 additional ProTips and a comprehensive Pro Research Report, providing deeper insights into EVgo’s financial health, growth prospects, and market positioning.
In other recent news, EVgo Inc. reported its second-quarter 2025 earnings, showcasing stronger-than-expected revenue figures. The company announced a revenue of $98 million, reflecting a 47% increase from the previous year and surpassing the forecasted $85.7 million by 14.39%. Additionally, EVgo’s earnings per share (EPS) came in slightly better than anticipated, with an actual EPS of -$0.10 compared to the forecasted -$0.11, marking a 9.09% surprise. These results highlight a notable performance for the company. There were no recent mergers or acquisitions reported for EVgo. Analyst firms have not recently upgraded or downgraded the stock. These developments provide insight into the company’s current financial standing.
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