Royal Bank Of Canada Has Lowered Expectations for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO) had its target price lowered by equities research analysts at Royal Bank Of Canada from $4.50 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 42.59% from the stock’s previous close.

A number of other brokerages have also recently commented on EVGO. Cantor Fitzgerald cut their price target on shares of EVgo from $7.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 4th. JPMorgan Chase & Co. restated a “neutral” rating on shares of EVgo in a research note on Wednesday, March 25th. Stifel Nicolaus cut their target price on shares of EVgo from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Benchmark reaffirmed a “buy” rating on shares of EVgo in a report on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.28.

EVgo Stock Up 0.2%

Shares of EVGO traded up $0.00 during mid-day trading on Wednesday, hitting $2.10. 2,151,748 shares of the company’s stock were exchanged, compared to its average volume of 4,078,423. EVgo has a 52 week low of $1.64 and a 52 week high of $5.18. The stock’s 50-day simple moving average is $2.13 and its 200-day simple moving average is $2.86. The firm has a market cap of $658.72 million, a price-to-earnings ratio of -6.55 and a beta of 2.82.

EVgo (NASDAQ:EVGO) last released its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $109.53 million for the quarter. The business’s quarterly revenue was up 45.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) earnings per share. Analysts forecast that EVgo will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of EVgo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVGO. Quarry LP increased its position in shares of EVgo by 145.0% during the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after acquiring an additional 5,508 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of EVgo in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in EVgo by 4,903.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock worth $29,000 after buying an additional 9,659 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in EVgo in the third quarter valued at about $49,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of EVgo in the 4th quarter worth approximately $32,000. 17.44% of the stock is owned by institutional investors.

EVgo News Summary

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q1 beat on the top and bottom lines: EPS of ($0.12) topped consensus ($0.14) and revenue was a record ~$110M, up ~45% year-over-year; charging revenue climbed ~18% (17th consecutive quarter of double-digit charging growth). GlobeNewswire: Q1 Results
• Positive Sentiment: DOE loan amendment and liquidity update were highlighted on the call, and management reiterated a long-term target of $0.5B adjusted EBITDA by 2030 — supportive for financing flexibility and the company’s path to profitability. MSN: DOE loan amendment & EBITDA target
• Positive Sentiment: Management tone on the earnings call emphasized growth, scale and network expansion, which analysts and summaries framed as upbeat and supportive of future volume/revenue expansion. TipRanks: Call highlights
• Neutral Sentiment: Full-year 2026 revenue guidance was reiterated as a wide range ($410M–$470M), which includes consensus; the range leaves room for upside or downside, so investors will watch execution against the midpoint. GlobeNewswire: Guidance
• Negative Sentiment: Near-term concern: Q2 revenue guidance ($75M–$85M) is well below street second-quarter expectations (~$106M), creating uncertainty about near-term growth cadence and likely pressuring short-term sentiment. Zacks: Q1 results & guidance
• Negative Sentiment: Company remains unprofitable (EPS still negative and slightly worse year-over-year compared to prior-year quarter), so longer-term targets hinge on sustained revenue growth and margin improvement. Zacks: Key metrics

EVgo Company Profile

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.