
EVgo (EVGO) Stock Forecast & Price Target
EVgo (EVGO) Analyst Ratings
Bulls say
EVgo's fundamental outlook is bolstered by a significant increase in network throughput, which rose 25% year-over-year to 95.0 GWh, alongside a projection of approximately 35% revenue growth for 2025. The company is seeing enhanced efficiency and utilization, with average daily throughput per stall increasing 16% to 295 kWh, driven by a larger proportion of high-capacity 350 kW chargers in its network. Additional potential for revenue growth is anticipated from ancillary services and new operational stalls, positioning EVgo to achieve EBITDA positivity by the fourth quarter of 2025 while leveraging substantial commercial bank financing for continued expansion.
Bears say
EVgo is anticipated to face significant revenue growth challenges due to slowing electric vehicle (EV) adoption rates and increasing competition in the DC Fast Charging station market. This unfavorable trajectory is reflected in the company's recent revenue performance, which fell short of expectations, showing a decline of 5.8% sequentially from the previous quarter and a mere 0.6% year-over-year increase. Additionally, factors such as weakened consumer sentiment, higher interest rates, and the scaling back of production by legacy OEMs could further hinder EVgo's ability to expand its charging infrastructure as planned.
This aggregate rating is based on analysts' research of EVgo and is not a guaranteed prediction by Public.com or investment advice.
EVgo (EVGO) Analyst Forecast & Price Prediction
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