ChargePoint (CHPT) has been identified as a promising electric vehicle (EV) charging investment pick by JPMorgan analysts. Despite strong quarterly revenue growth of 93% YoY, CHPT stock has fallen from over $45 to $10 and change. However, the company has continued to report strong sales in the near term, with anticipated Q1 revenue of $122 million to $132 million, which would represent a 56% YoY increase.

While investors may be hesitant to invest in CHPT stock following its price drop, analysts recommend patience as the key to success for the EV charging play. Currently, CHPT has an average brokerage recommendation (ABR) of 1.60, indicating a strong buy to buy rating, with 66.7% of all recommendations being a strong buy. However, it’s important to note that brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation due to the positive bias given by analysts due to their vested interest in the stock they cover. As such, investors should use the information provided by brokerage recommendations to validate their own research or an indicator that has proven successful in predicting a stock's price movement.