EVgo is an electric vehicleDC fast charging station network in the United States. It was founded on October 6, 2010 and its CEO is Catherine Zoi. It has its headquarter in Los Angeles, California, U.S.
As of August 2022, there are more than 850 charging stations. All major auto manufacturers are compatible with the company’s charge stations, which are spread across 34 states.
EVgo launched its IPO on October 2, 2020 under the ticker symbol ‘EVGO’ at a price of $15.10/share.
EVgo Stock Forecast (Short- and Long-Term)
Here below we have a basic price prediction table: –
| Year | Year-Start | Year-End |
| 2023 | $ 3.98 | $ 4.57 |
| 2024 | $ 4.56 | $ 5.24 |
| 2025 | $ 5.25 | $ 6.03 |
| 2030 | $ 10.53 | $ 12.10 |
| 2034 | $ 19.34 | $ 22.24 |
Short-term forecast
- Price prediction 2023: According to the prediction, the stock price will increase from $3.98 at the start of the year to $4.57 at the year’s end.
- Price prediction 2024: At the beginning of the year, shares will cost $4.56, and towards the end, they will cost $5.24.
- Price prediction 2025: The stock price will be $5.25 at the start of 2025 and $6.03 at the completion of the year.
Long-term forecast
- Price prediction 2030: According to some analysts’ forecasts, the stock will increase in value to $10.53 at the beginning of 2030 and $12.10 by the end of the year.
- Price prediction 2034: According to the predicted price estimate, the stock would start the year at $19.34 and rise to $22.24 by the end of the year.
Current price of EVgo stock is 3.98 USD.
Factors Affecting the price of EVgo stock
Here are some main factors that can affect the price of the stock.
- EV growth: Since it is a network of EV charging stations, the expansion and production of EVs on the market—which, as we all know, is happening right now—will undoubtedly have an impact on the price of EVgo stock.
- Innovation: Research and innovation is something that is very important to do for a firm. So, a company must perform new research and developments on schedule in order to exist, and if the company lags behind in these efforts, it will surely have an effect on its growth.
- Competition: In this expanding period, everyone wants to be better than the people around them. Since this market is expanding and new businesses are always entering it, EVgo must be strategic in order to outpace its competitors.
Is EVgo a Good Buy?
In the past year, EVgo has received “buy,” “hold,” and “sell” ratings from 9 Wall Street equities research analysts. Currently, the stock has 2 hold ratings and 7 buy recommendations. Investors should “buy” EVGO shares, according to Wall Street equity research analysts.
*We only provide recommendations based on our best assumptions, so we strongly suggest that you do your own research before taking any action.
