RBC Capital Maintained a Buy Rating on EVgo, Inc. (EVGO)

EVgo, Inc. (NASDAQ:EVGO) is one of the Best American Penny Stocks to Buy According to Analysts. On July 15, Chris Dendrinos from RBC Capital maintained a Buy rating on EVgo, Inc. (NASDAQ:EVGO). The company is set to report its second quarter earnings on August 1, 2025.

The company beat expectations during its fiscal first quarter results. EVgo, Inc. (NASDAQ:EVGO) delivered revenue of $75.29 million, up 36.5% and ahead of expectations by $3.91 million. This was a record quarterly revenue driven by a 49% rise in Charging network revenue. Moreover, Network throughput reached 83GWh, marking a 60% jump year-over-year. Management noted that over 180 new charging stalls were added, ending the quarter with 4,240 stalls in operation. The company reaffirmed its FY2025 guidance and is expecting revenue between $340 million and $380 million.

RBC Capital Maintained a Buy Rating on EVgo, Inc. (EVGO)

A businessman plugging in to a public charging station, symbolizing the services provided by the company.

EVgo, Inc. (NASDAQ:EVGO) operates one of the largest public fast charging networks for electric vehicles in the United States, with more than 1,100 charging stations across over 40 states.

While we acknowledge the potential of EVGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EVGO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.