But as we advance, sales growth is projected to pick up in FY2025 to 9.45% YOY growth and accelerate more to 13.4% growth through FY 2026. The growth has cooled down substantially since then, and Bark sits at a valuation of 92% lower, with revenue estimated to stay essentially flat from the company’s FY2022-2024. This drove up the valuation to over $1.8 billion at its peak. Initially, the company had explosive growth with the pandemic’s tailwinds. People go online for everything these days (especially the younger generation), and the trend is only accelerating. While many might compare Bark to, I would argue that times are very different. And Bark (NYSE: BARK) is well-positioned to capitalize on that market. More than 48 million American households have dogs. Source: Khakimullin Aleksandr / Shutterstock Analysts also have a consensus price target of $15.4, 77% higher. Even if you cut that amount by half in the next ten years, we are looking at substantial upside potential here. Nevertheless, it retains a market share of ~65% in North America. The company operates in a highly competitive and fragmented market with competitors such as Blink Charging (NASDAQ: BLNK), EVgo (NASDAQ: EVGO), and Tesla. Of course, I wouldn’t ignore that ChargePoint also faces some heavy challenges. The total addressable market here could reach $417 billion by 2030, more than 900 times its current annual revenue! As more electric vehicles hit the road, the demand for charging infrastructure will increase even more. These tailwinds have only been accelerating, as proven by the recent delivery reports of companies like Tesla (NASDAQ: TSLA). Secular tailwinds in the EV industry have driven consistently high sales growth, reaching nearly 60% in the April quarter. The stock is down around 81% from its peak, but the business hasn’t stopped its momentum. ChargePoint is one of the world’s largest electric vehicle (EV) charging solutions providers, with over 300,000 charging locations across 31 countries. The ChargePoint (NYSE: CHPT) stock is among the top cheap growth ideas that I like right now.
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