ChargePoint Climbs 7% as CEO Says Rally Is ‘the Beginning of the Momentum’; EVgo Ticks Up, Blink Charging Holds Flat
Quick Read
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Wilmer calls ChargePoint's two-day, 8% climb "the beginning of the momentum," while EVgo and Blink Charging decline to rerate alongside CHPT.
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SPY falling 0.4% while DRIV gains 0.6% isolates ChargePoint's 68% weekly surge as a company-specific reappraisal, not a broad EV sector rotation.
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Q2 revenue of $116M beat guidance with a record 38% gross margin, but Q3 guidance only brackets consensus and the margin included a one-time tariff refund.
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ChargePoint Holdings( NYSE:CHPT ) stock is rallying for a second straight session as CEO Rick Wilmer publicly frames the surge as the opening act of a longer move. The Global X Autonomous & Electric Vehicles ETF( NASDAQ:DRIV ) is up 0.6% to $34.71; at the same time, the SPDR S&P 500 ETF Trust( NYSEARCA:SPY ) is down 0.4% to $770.42, so the broad tape isn't providing any lift for the EV names.
ChargePoint stock is up 7% to $9.70 in Friday afternoon trading, extending Wednesday's post-earnings surge into a second consecutive advance. Meanwhile, EVgo( NASDAQ:EVGO ) stock is up 2% to $1.47, a modest tick that leaves the charging peer read looking thin. Blink Charging( NASDAQ:BLNK ) stock is down 0.3% to $0.59, essentially flat as it declines to rally alongside ChargePoint.
Earnings Beat Fuels the Momentum Call
Wednesday's Q2 FY2027 numbers from ChargePoint cleared the bar with room to spare. Revenue landed at $116 million, above the top of the company's own guidance range and up 18% year over year (YoY), while networked charging systems revenue climbed 25% YoY. ChargePoint's adjusted EBITDA loss narrowed to $4.8 million from a $22 million loss in the same quarter last year, and non-GAAP gross margin reached 38%, a company record on that measure.
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That record margin figure includes a one-time tariff refund of $4.2 million, so ChargePoint's normalized number sits closer to 35%. Wilmer stated in an interview that the rally is "the beginning of the momentum" and that growth is accelerating on the back of new products such as the Express Solo fast charger and a deeper Eaton partnership. It's ChargePoint's fourth consecutive quarter of year-over-year revenue growth, and management said cash usage during the period was essentially zero.
Second Day Is the One That Matters
A swift single-session rally may or may not be indicative of short covering, so the follow-through session is the more informative data point. A second straight day of gains argues the market is genuinely rerating the turnaround rather than unwinding a squeeze, because nothing in ChargePoint's outlook changed overnight. Buyers today are paying a higher price for exactly the same information that was available Wednesday afternoon, which reads as conviction rather than mechanical short covering.
The tension inside the quarter is real. ChargePoint's Q3 FY2027 revenue guidance of $105 million to $115 million only brackets consensus rather than lifting it, and the record margin leaned partly on a tariff refund that won't repeat. Wilmer's bull case rests on new hardware and accelerating growth rather than on the quarter just reported, and that's the right place to look, because the Q2 report is already in the price.
Charging Peers Refuse to Rerate
Charging infrastructure stocks aren't all moving as a group today. EVgo's modest tick sits against a Q2 2026 report that showed $83 million in revenue and a fresh agreement with Tesla to deploy EVgo-owned V4 Superchargers across dozens of U.S. cities starting this year. Blink Charging is essentially flat after cutting full-year 2026 revenue guidance to $83 million to $90 million from $105 million to $115 million alongside its Envoy Technologies divestiture and pivot toward higher-margin service revenue.
The scoreboard through Friday's action tells the story. ChargePoint stock is up 77% over the past week and 49% year to date (YTD), a stunning turn given the shares are still down 9% over the trailing year. EVgo stock is down 49% YTD and Blink Charging stock is down 12% YTD, so the divergence points to a company-specific reappraisal of ChargePoint rather than capital rotating into charging infrastructure as a theme.
What to Watch Next
Ahead of ChargePoint's Q3 FY2027, the question is whether Express Solo bookings translate into a report that clears consensus rather than merely meeting it. That's the moment where Wilmer's momentum thesis gets tested against a reduced tariff benefit and normalized margins, and it's the point at which the second-day repricing either extends or reverses. In the meantime, the interview cadence and any commentary at investor conferences can also shape sentiment.
The company-specific nature of today's move is also its risk. Without sector support, a broader charging selloff could pull ChargePoint back quickly, since there's no thematic bid underneath the shares. Investors sizing their exposure to a sub-$10 stock with a reported stockholders' deficit should keep their positions modest and their risk tightly capped.
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