Stifel analyst Stephen Gengaro has adjusted his outlook on Blink Charging (BLNK, Financial), lowering the price target from $2 to $1. This decision follows the company's weaker-than-expected performance in the first quarter. Despite these results, there has been notable improvement in the service segment, and the company is making strides in reducing costs. The analyst maintains a Hold rating on the stock, highlighting ongoing progress in certain operational areas.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Blink Charging Co (BLNK, Financial) is $2.26 with a high estimate of $5.00 and a low estimate of $0.80. The average target implies an upside of 212.88% from the current price of $0.72. More detailed estimate data can be found on the Blink Charging Co (BLNK) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, Blink Charging Co's (BLNK, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Blink Charging Co (BLNK, Financial) in one year is $1.94, suggesting a upside of 169.11% from the current price of $0.7209. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Blink Charging Co (BLNK) Summary page.
BLNK Key Business Developments
Release Date: May 12, 2025
- Total Revenue: $20.8 million in Q1 2025, down from $37.6 million in Q1 2024.
- Product Revenue: $8.4 million in Q1 2025, compared to $27.5 million in Q1 2024.
- Service Revenue: Increased 29.2% to $10.6 million in Q1 2025 from $8.2 million in Q1 2024.
- Gross Profit: $7.4 million, or 35.5% of revenues, compared to $13.4 million, or 35.7% of revenues in Q1 2024.
- Operating Expenses: Decreased 7.9% to $28.5 million from $30.9 million in Q1 2024.
- Loss Per Share: $0.20 in Q1 2025, compared to a loss of $0.17 in Q1 2024.
- Adjusted Loss Per Share: $0.18 in Q1 2025, compared to $0.13 in Q1 2024.
- Adjusted EBITDA: Loss of $15.5 million in Q1 2025, compared to a loss of $10.2 million in Q1 2024.
- Cash and Equivalents: $42 million as of March 31, 2025, compared to $55 million as of December 31, 2024.
- Company-Owned Chargers: 7,091 units, a 22% increase year over year.
- Charging Service Revenue Growth: Increased 35% year over year.
- Electricity Delivered: 50 gigawatt hours, a 66% increase year over year.
- Operating Cash Burn Reduction: Reduced by 45% in the quarter.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Charging service revenue increased by 35% year over year, reaching a new record high.
- Operating expenses were reduced by 8%, marking the lowest level in nearly three years.
- The Blink networks delivered approximately 50 gigawatt hours of electricity, representing a 66% increase year over year.
- The company closed the quarter with a 22% increase in company-owned chargers, totaling 7,091 units.
- Blink's international presence is strong, with significant growth in Europe and a new 15-year contract in the UK valued at over GBP500,000.
Negative Points
- Product sales declined sharply to $8.4 million from $27.5 million in Q1 2024.
- The company reported a loss per share of $0.20, compared to a loss of $0.17 in the prior-year period.
- Adjusted EBITDA for the first quarter was a loss of $15.5 million, compared to a loss of $10.2 million in the prior year.
- Cash, cash equivalents, and marketable securities decreased to $42 million from $55 million as of December 31, 2024.
- The current product portfolio does not sufficiently address the value-oriented segment of the market, impacting performance.
