Cantor Fitzgerald Has Lowered Expectations for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO) had its price target cut by stock analysts at Cantor Fitzgerald from $7.00 to $6.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 162.01% from the company’s previous close.

A number of other research firms have also recently weighed in on EVGO. UBS Group upped their price objective on shares of EVgo from $5.40 to $5.90 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Stifel Nicolaus lowered their price objective on EVgo from $8.00 to $7.50 and set a “buy” rating on the stock in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of EVgo in a research note on Thursday, January 22nd. Finally, Benchmark reissued a “buy” rating on shares of EVgo in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.27.

EVgo Stock Down 9.1%

NASDAQ:EVGO opened at $2.29 on Wednesday. The stock has a market capitalization of $705.27 million, a PE ratio of -7.16 and a beta of 2.63. EVgo has a 52 week low of $2.27 and a 52 week high of $5.18. The stock’s 50-day moving average price is $2.97 and its 200-day moving average price is $3.54.

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

Hedge Funds Weigh In On EVgo

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP increased its stake in EVgo by 145.0% during the fourth quarter. Quarry LP now owns 9,307 shares of the company’s stock worth $27,000 after purchasing an additional 5,508 shares during the period. Kestra Advisory Services LLC purchased a new stake in EVgo during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in EVgo by 4,903.0% during the 4th 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 in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of EVgo during the fourth quarter worth $32,000. Finally, Fullerton Advisors LLC acquired a new position in EVgo during the 4th quarter worth $36,000. 17.44% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q4 results beat estimates: EVgo reported a narrower-than-expected loss and revenue jumped ~75% year-over-year, helped by an ancillary contract payment and charging-network growth — a key fundamental driver supporting the stock. EVgo Q4 Loss Narrower Than Expected, Revenues Increase Y/Y
• Positive Sentiment: Company says it has “surged to profitability” by siting chargers where usage is strong — management messaging and operational progress can support longer-term margin improvement and investor confidence. EVgo surges to profitability by putting chargers ‘where people are,’ CEO says
• Positive Sentiment: Network expansion acceleration: EVgo is targeting 1,400–1,650 new stalls in 2026 and accelerating NACS rollout — growth cadence that could materially increase revenue per stall over time. Evgo targets 1,400–1,650 new stalls in 2026
• Neutral Sentiment: Broker consensus remains generally constructive (consensus “Moderate Buy”), which offsets some negative reactions but leaves valuation and timing questions open. EVgo Given Consensus Rating of “Moderate Buy”
• Neutral Sentiment: Short-interest note in the data feed shows a large reported change but the entry contains zero shares/NaN and is likely a reporting/data error — not a confirmed driver of today’s move.
• Negative Sentiment: Analyst price-target trims: Several firms lowered targets (RBC to $4.50, Cantor Fitzgerald to $6.00, Stifel to $7.00) even while keeping positive ratings — the downgrades of upside targets likely contributed to selling pressure despite constructive ratings. Benzinga Stifel PT Lowered to $7
• Negative Sentiment: Market reaction / profit-taking: several outlets note the stock dipped despite the strong quarter, suggesting short-term traders are locking in gains and pushing the price below key moving averages. EVgo Stock Dips Despite Historic Profit

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.