CHPT
Same old Buy, newer reasons
ChargePoint just got a post-earnings reminder that not everyone has given up on the EV charging story. The stock was reiterated at Buy after Q2 FY27, with the note pointing to 18% year-over-year revenue growth and a top-line beat — the kind of combo that makes investors sit up a little straighter.
The margin glow-up
The real headline, though, is margins. Q2 GAAP gross margin jumped 500 basis points to 36%, helped by tighter cost control and some one-off tariff refunds. Translation: this isn’t just “sell more chargers and hope.” It’s starting to look more like a company that can actually keep more of the money it makes.
Why bulls are still hanging around
The analyst’s case seems to be that ChargePoint’s next chapter is about execution, not reinvention. Two things are doing a lot of the heavy lifting:
- Express Solo is ramping up, which could give the revenue line a bit more zip
- Europe is becoming a bigger focus, which adds another lane for growth
If that combo keeps working, the thesis gets easier to tell: more sales, better margins, less drama.
The investor takeaway
For now, ChargePoint is still in that tricky phase where every good quarter matters more than the last one. But if revenue keeps climbing and margins keep widening, the market may stop treating it like a perpetual turnaround story and start treating it like an actual business. Big picture: in EV charging, that’s a pretty big upgrade.