EVgo Vs. ChargePoint: Analyst Verdict On Which Stock Leads The EV Charging Race?

Core Insights - EVgo Inc is positioned to outperform in the electric vehicle (EV) charging sector, while ChargePoint Holdings Inc is struggling to maintain momentum [1] EVgo - EVgo has a scalable business model and higher utilization rates, benefiting from its owner-operator model which allows it to thrive even in a slower EV sales environment [2] - The company has shown solid results with network throughput growth, stable margins, and improved operating leverage, and it is expected to become profitable by the end of 2025, supported by a potential Department of Energy loan [3] - A price target of $7 reflects an optimistic outlook for EVgo, which is on a Positive Catalyst Watch [3] - EVgo's ability to control its own growth and utilization distinguishes it from competitors, positioning it as a leader in the EV charging market [6] ChargePoint - ChargePoint's business model is heavily reliant on hardware sales, which have been adversely affected by slower-than-expected EV adoption [4] - Concerns about ChargePoint's profitability and future growth visibility have led to a downgrade to 'Underweight' [4] - The company's high software margins are not sufficient to offset the underperformance of its hardware business, which has not scaled adequately [5] - ChargePoint's dependence on third-party site hosts for charger expansion exposes it to risks, particularly as demand from fleet and commercial customers remains weak [5]