Cantor Fitzgerald Cuts EVgo (NASDAQ:EVGO) Price Target to $3.00

EVgo (NASDAQ:EVGO) had its price objective dropped by equities research analysts at Cantor Fitzgerald from $4.00 to $3.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 96.08% from the stock’s previous close.

Several other research firms have also issued reports on EVGO. Royal Bank Of Canada lowered their price objective on EVgo from $4.50 to $3.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of EVgo in a research report on Wednesday, July 15th. Wall Street Zen cut EVgo from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of EVgo in a research report on Wednesday. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of EVgo in a research note on Tuesday, July 21st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.72.

EVgo Stock Performance

NASDAQ:EVGO opened at $1.53 on Thursday. The company has a market cap of $480.21 million, a price-to-earnings ratio of -4.37 and a beta of 2.82. EVgo has a 1 year low of $1.41 and a 1 year high of $5.18. The stock’s 50 day simple moving average is $1.86 and its two-hundred day simple moving average is $2.17. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.07 and a quick ratio of 2.07.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.03. The business had revenue of $82.65 million during the quarter. During the same quarter in the previous year, the company earned ($0.10) EPS. The business’s revenue was down 15.7% compared to the same quarter last year. As a group, equities analysts anticipate that EVgo will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVgo

Several institutional investors have recently bought and sold shares of the company. Pictet Asset Management Holding SA grew its position in EVgo by 78.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,273,200 shares of the company’s stock worth $6,615,000 after purchasing an additional 996,815 shares during the period. UBS Group AG lifted its position in shares of EVgo by 83.6% during the 4th quarter. UBS Group AG now owns 1,043,689 shares of the company’s stock valued at $3,037,000 after buying an additional 475,092 shares in the last quarter. Lazard Asset Management LLC grew its stake in EVgo by 89.4% in the 1st quarter. Lazard Asset Management LLC now owns 652,657 shares of the company’s stock valued at $1,123,000 after acquiring an additional 307,984 shares during the period. Fullerton Advisors LLC purchased a new stake in EVgo in the 4th quarter worth $36,000. Finally, SG Americas Securities LLC acquired a new position in EVgo during the fourth quarter worth $47,000. 17.44% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: EVgo plans to deploy licensed Tesla V4 Superchargers under the EVgo brand across its U.S. network. The chargers can deliver up to 500 kW and 1,000 volts, potentially improving charging speed, customer appeal and site economics. EVgo Expands Fast Charging in the U.S. with Supercharger Deployment
• Positive Sentiment: The company announced a long-term plan targeting approximately $500 million in adjusted EBITDA by 2030, alongside plans with Brixmor to add more than 500 fast-charging stalls at U.S. shopping centers. These initiatives could expand utilization and recurring charging revenue. EVgo outlines path to approximately $0.5 billion adjusted EBITDA by 2030
• Positive Sentiment: Q2 charging-network revenue increased 19% year over year to $61 million, marking the company’s 18th consecutive quarter of double-digit growth. Network throughput rose 13% to 99 gigawatt-hours, while the quarterly loss of $0.15 per share was narrower than expected. EVgo Inc. Reports Second Quarter 2026 Results
• Neutral Sentiment: Pilot, General Motors and EVgo’s joint network now exceeds 300 locations and 1,300 stalls across 40 states, covering roughly 75% of the contiguous United States. Needham reaffirmed a “hold” rating, indicating limited near-term conviction. Pilot, General Motors and EVgo reach more than 300 fast-charging locations
• Negative Sentiment: Q2 total revenue was $82.65 million, down 15.7% year over year, and the company remains unprofitable. EVgo’s $400 million–$430 million FY 2026 revenue outlook is below the roughly $433 million analyst consensus, raising concerns about growth and execution.

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.