Royal Bank Of Canada Issues Pessimistic Forecast for EVgo (NASDAQ:EVGO) Stock Price

EVgo (NASDAQ:EVGO) had its price target lowered by analysts at Royal Bank Of Canada from $7.00 to $4.50 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 96.51% from the company’s current price.

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

EVgo Price Performance

Shares of EVgo stock opened at $2.29 on Wednesday. The firm has a fifty day moving average price of $2.97 and a two-hundred day moving average price of $3.54. EVgo has a fifty-two week low of $2.27 and a fifty-two week high of $5.18. The company has a market cap of $705.27 million, a PE ratio of -7.16 and a beta of 2.63.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its position in EVgo by 1,188.1% during the 1st quarter. AQR Capital Management LLC now owns 494,598 shares of the company’s stock worth $1,316,000 after acquiring an additional 456,201 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in EVgo by 31.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,339 shares of the company’s stock worth $222,000 after purchasing an additional 19,883 shares in the last quarter. Millennium Management LLC grew its holdings in shares of EVgo by 25.9% during the first quarter. Millennium Management LLC now owns 5,819,392 shares of the company’s stock worth $15,480,000 after purchasing an additional 1,195,470 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of EVgo in the second quarter valued at $54,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of EVgo by 31.7% in the second quarter. Los Angeles Capital Management LLC now owns 45,370 shares of the company’s stock valued at $166,000 after buying an additional 10,929 shares during the last quarter. 17.44% of the stock is owned by institutional investors and hedge funds.

EVgo News Summary

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

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.