Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Stock Has Average Target Price of $9.81

Key Points

• Analyst sentiment is moderately positive: Six firms give Evolv Technologies a “Moderate Buy” consensus, with four buys, one hold and one sell. The average 12-month price target is $9.81 versus the stock’s recent price of $4.62.
• Recent financial results were mixed: The company reported quarterly revenue of $43.75 million, above expectations, but its $0.05-per-share loss was wider than the projected $0.03 loss. Analysts expect a full-year loss of approximately $0.20 per share.
• Institutional ownership is substantial: Hedge funds and other institutions own 66.65% of the stock, while company insiders own 5.20%; a director recently purchased 19,100 shares at an average price of $4.96.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) has received an average recommendation of "Moderate Buy" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.81.

Several brokerages have recently issued reports on EVLV. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, August 30th. LADENBURG THALM/SH SH began coverage on shares of Evolv Technologies in a research note on Tuesday, September 8th. They set a "buy" rating and a $8.00 target price for the company. Craig Hallum reissued a "buy" rating and set a $11.25 target price on shares of Evolv Technologies in a research note on Wednesday, August 12th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Evolv Technologies in a report on Tuesday, September 29th.

Evolv Technologies Price Performance

NASDAQ:EVLV opened at $4.62 on Monday. The business's 50-day moving average price is $4.86 and its 200 day moving average price is $5.66. The firm has a market cap of $836.82 million, a P/E ratio of -154.00 and a beta of 1.75. Evolv Technologies has a 52-week low of $4.02 and a 52-week high of $8.40. The company has a quick ratio of 1.11, a current ratio of 1.18 and a debt-to-equity ratio of 0.24.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. The business had revenue of $43.75 million during the quarter, compared to the consensus estimate of $41.80 million. As a group, sell-side analysts predict that Evolv Technologies will post -0.20 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard Shapiro acquired 19,100 shares of the business's stock in a transaction dated Friday, September 4th. The stock was bought at an average price of $4.96 per share, for a total transaction of $94,736.00. Following the transaction, the director owned 39,000 shares of the company's stock, valued at approximately $193,440. The trade was a 95.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Evolv Technologies

A number of hedge funds have recently modified their holdings of the stock. Peregrine Capital Management LLC purchased a new position in Evolv Technologies during the 1st quarter valued at about $9,722,000. Bank of America Corp DE increased its holdings in shares of Evolv Technologies by 320.0% in the 1st quarter. Bank of America Corp DE now owns 677,944 shares of the company's stock valued at $4,102,000 after purchasing an additional 516,523 shares during the period. Militia Capital Management LLC purchased a new stake in shares of Evolv Technologies in the first quarter worth approximately $2,722,000. Bank of New York Mellon Corp purchased a new stake in shares of Evolv Technologies in the second quarter worth approximately $2,571,000. Finally, Wedmont Private Capital purchased a new stake in shares of Evolv Technologies in the second quarter worth approximately $1,640,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.

Evolv Technologies Company Profile

Evolv Technologies develops AI-powered security screening systems designed to help organizations detect weapons and other threats at entrances while supporting a more convenient visitor experience. The company combines sensor technology, artificial intelligence and security analytics to screen people as they walk through designated screening areas.

Its product portfolio has included Evolv Express, a touchless weapons-detection system intended for high-throughput environments; Evolv Edge, a related screening solution for smaller or more controlled entrances; and Evolv Insights, a software platform that provides security and operational data to help organizations monitor screening activity and manage their security programs.

Evolv has served a range of customers, including sports and entertainment venues, educational institutions, healthcare facilities, corporate campuses and other public-facing organizations.

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