Royal Bank Of Canada Cuts EVgo (NASDAQ:EVGO) Price Target to $4.50

EVgo (NASDAQ:EVGO) had its price target lowered by stock analysts at Royal Bank Of Canada from $7.00 to $4.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 82.19% from the company’s current price.

Several other equities research analysts have also recently commented on EVGO. Stifel Nicolaus cut their price objective on shares of EVgo from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of EVgo in a report on Thursday, January 22nd. Cantor Fitzgerald reduced their price objective on EVgo from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday. UBS Group lifted their target price on EVgo from $5.40 to $5.90 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Benchmark restated a “buy” rating on shares of EVgo in a research note on Monday. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, EVgo presently has an average rating of “Moderate Buy” and an average target price of $5.27.

EVgo Stock Down 7.8%

Shares of EVGO traded down $0.21 on Wednesday, hitting $2.47. The company’s stock had a trading volume of 2,015,777 shares, compared to its average volume of 3,545,203. The firm’s fifty day moving average price is $3.00 and its 200-day moving average price is $3.55. EVgo has a fifty-two week low of $2.30 and a fifty-two week high of $5.18. The firm has a market capitalization of $760.71 million, a price-to-earnings ratio of -6.33 and a beta of 2.63.

EVgo (NASDAQ:EVGO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $118.47 million during the quarter. The business’s quarterly revenue was up 75.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. As a group, equities analysts predict that EVgo will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EVgo

A number of institutional investors and hedge funds have recently modified their holdings of EVGO. Quarry LP lifted its stake in EVgo by 145.0% in the 4th quarter. Quarry LP now owns 9,307 shares of the company’s stock valued at $27,000 after purchasing an additional 5,508 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in EVgo in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its stake in EVgo by 4,903.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 9,856 shares of the company’s stock valued at $29,000 after buying an additional 9,659 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of EVgo in the fourth quarter valued at approximately $32,000. Finally, Fullerton Advisors LLC bought a new position in shares of EVgo during the 4th quarter worth approximately $36,000. 17.44% of the stock is owned by institutional investors.

Key Stories Impacting EVgo

Here are the key news stories impacting EVgo this week:

• Positive Sentiment: Q4 beats: EVgo reported Q4 revenue of $118.5M (up 75% YoY) and EPS of ($0.04), beating consensus—driving an initial stock uptick after the results. Q4 press release
• Positive Sentiment: Network expansion: Management is accelerating NACS rollout and targeting 1,400–1,650 new stalls in 2026, signaling faster unit growth and network revenue scaling that supports longer‑term revenue visibility. Expansion article
• Positive Sentiment: Analyst support remains constructive: Cantor Fitzgerald and Stifel kept overweight/buy ratings despite trimming price targets, implying continued analyst conviction in upside potential (new PTs of $6.00 and $7.00 respectively). Analyst notes
• Neutral Sentiment: Coverage and summaries: Multiple outlets summarized the beat and call (earnings transcript, MarketBeat and Zacks coverage), providing detail for investors but no new catalysts beyond the results. Earnings summary
• Neutral Sentiment: Consensus rating: Brokerages show a consensus of “Moderate Buy,” reflecting mixed but generally positive sell‑side sentiment. Consensus note
• Neutral Sentiment: Short‑interest data reported appears inconsistent (zero shares / 0.0 days-to-cover) and likely reflects a data anomaly rather than a real short‑squeeze signal; treat with caution. (No reliable link available.)
• Negative Sentiment: FY‑2026 guidance disappointed vs. Street: EVgo guided revenue to $410–$470M versus consensus near ~$481M, and issued an adjusted EBITDA range that implies modest near‑term profitability risk—this trimmed some of the post‑earnings upside. Company presentation

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.