EVgo (NASDAQ:EVGO) Price Target Cut to $4.50 by Analysts at Royal Bank Of Canada

EVgo (NASDAQ:EVGO) had its price target reduced by Royal Bank Of Canada from $7.00 to $4.50 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Cantor Fitzgerald dropped their target price on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday. Benchmark reaffirmed a “buy” rating on shares of EVgo in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of EVgo in a report on Thursday, January 22nd. UBS Group boosted their target price on shares of EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Stifel Nicolaus decreased their price target on shares of EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, EVgo presently has a consensus rating of “Moderate Buy” and an average target price of $5.27.

EVgo Price Performance

Shares of NASDAQ:EVGO opened at $2.52 on Wednesday. EVgo has a one year low of $2.30 and a one year high of $5.18. The company has a market cap of $776.11 million, a price-to-earnings ratio of -7.88 and a beta of 2.63. The firm has a 50 day simple moving average of $2.99 and a 200 day simple moving average of $3.54.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $118.47 million during the quarter. During the same period last year, the firm earned ($0.11) EPS. The business’s revenue was up 75.5% compared to the same quarter last year. As a group, analysts expect that EVgo will post -0.45 EPS for the current year.

Institutional Investors Weigh In On EVgo

Several institutional investors and hedge funds have recently made changes to their positions in the business. Soros Fund Management LLC increased its holdings in EVgo by 342.2% in the second quarter. Soros Fund Management LLC now owns 4,976,983 shares of the company’s stock worth $18,166,000 after purchasing an additional 3,851,583 shares in the last quarter. State Street Corp grew its position in shares of EVgo by 59.3% during the 4th quarter. State Street Corp now owns 6,346,462 shares of the company’s stock worth $18,468,000 after buying an additional 2,362,435 shares during the period. Invesco Ltd. increased its stake in shares of EVgo by 111.0% in the 4th quarter. Invesco Ltd. now owns 4,424,683 shares of the company’s stock valued at $12,876,000 after acquiring an additional 2,327,545 shares in the last quarter. Millennium Management LLC increased its stake in shares of EVgo by 45.3% in the 3rd quarter. Millennium Management LLC now owns 5,560,748 shares of the company’s stock valued at $26,302,000 after acquiring an additional 1,734,958 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of EVgo during the 3rd quarter valued at $8,165,000. Institutional investors own 17.44% of the company’s stock.

Key EVgo News

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Reported a strong Q4 and FY‑2025: Q4 revenue $118M (up 75% y/y) and EPS beat analysts’ estimates, and full‑year revenue rose ~50% — underlying business growth and margin progress support long‑term thesis. Read More.
• Positive Sentiment: Company is accelerating network rollout and NACS conversion, targeting 1,400–1,650 new stalls in 2026 — growth initiatives that can expand utilization and charging revenue. Read More.
• Neutral Sentiment: Corporate outlook: EVgo initiated FY‑2026 guidance of $410–$470M revenue and adjusted EBITDA of $(20)–$20M — it provides a framework for 2026 but leaves a wide earnings band. Read More.
• Neutral Sentiment: Brokerage consensus remains constructive overall (consensus “Moderate Buy”), showing continuing analyst support despite near‑term noise. Read More.
• Negative Sentiment: Several analysts cut price targets (RBC to $4.50, Cantor Fitzgerald to $6.00, Stifel to $7.00) — these downward revisions, even with buy/outperform ratings retained, likely pressured the stock. Read More. Read More.
• Negative Sentiment: FY‑2026 revenue guidance came in below Street expectations (~$480.8M), creating near‑term earnings uncertainty and giving investors a reason to trim positions. Read More.
• Neutral Sentiment: Market reaction: higher volume than average is amplifying moves; recent short‑interest data is noisy/unreliable in reports and not clearly explanatory for today’s decline. Read More.

About EVgo

EVgo operates one of the largest public electric vehicle (EV) fast-charging networks in the United States, delivering direct current (DC) fast charging and Level 2 charging services to passenger vehicles and commercial fleets. The company’s charging stations are strategically located in urban centers, suburban shopping areas, workplace parking facilities, and along major highway corridors, enabling convenient access for EV drivers and promoting long-distance travel.

The company offers a suite of charging solutions, including subscription plans, pay-per-use options, and fleet charging services tailored to the needs of ride-hailing, delivery, and corporate vehicle fleets.