Zhitong Finance learned that Needham expressed optimism about Blink Charging (BLNK.US) and pointed out that Blink Charging execution and communication have been improved, and further progress is expected. Needham gave the company a target price of $7, a valuation of 15 times the adjusted EBITDA profit for FY26, or 2.5 times Blink Charging's revenue for FY24.

Analyst Chris Pierce pointed out that as the popularity of electric vehicles worsens and Tesla (TSLA.US)'s charging field grows larger, Blink Charging's stock price is as sluggish as other electric vehicle supply equipment companies. However, Pierce and his team anticipate that Blink Charging will benefit from a disconnect in electric vehicle adoption over the years. Notably, the installation of electric vehicle chargers lags behind the adoption of electric vehicles, creating favorable conditions for device growth, which increased Needham's confidence in Blink Charging's product sales forecasts.

The analyst said, “Blink Charging's restructured leadership team showed better execution and clearer investor communication, and benefited from lower expectations, offsetting the dilution of adverse factors. The $100 million financing in January '24 was Blink Charging's last financing under our model.”

On Monday, Blink Charging's stock price rose 7.45% to $3.03, compared to the previous 52-week trading range of $2.22 to $15.40. Needham's short equity accounts for 32.4% of the total floating deposit.