Wall Street is Bullish on EVGO, Here’s Why

EVgo, Inc. (NASDAQ:EVGO) is one of the Best Penny Stocks to Buy with the Highest Upside Potential. Wall Street is bullish on EVgo, Inc. (NASDAQ:EVGO) since it released its fiscal second-quarter results for 2025. The company grew its revenue by 47.15% year-over-year to reach $98.03 million, which was ahead of the consensus by $13.55 million. The EPS of negative $0.10, however, fell short of the consensus by $0.01.

Management noted that the quarterly revenue was a record high, driven by strong demand and operational execution. Notably, the company’s charging network revenue reached $51.8 million, marking the 14th consecutive quarter of double-digit year-over-year growth at 46%.

Several analysts have expressed their bullish sentiment for EVgo, Inc. (NASDAQ:EVGO). On September 15, Andres Sheppard from Cantor Fitzgerald reiterated a Buy rating on the stock with a price target of $7. Later on September 21, Bill Peterson from J.P. Morgan also reiterated a Buy rating on the stock with a price target of $7.

EVgo, Inc. (NASDAQ:EVGO) is a leading electric vehicle (EV) fast charging network in the United States, operating more than 1,100 public fast charging stations across 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.