Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Stock Has Consensus Target Price of $9.81 According to Analysts

Key Points

• Analyst sentiment is moderately bullish: Six analysts rate Evolv Technologies a consensus “Moderate Buy,” with four buys, one hold and one sell. The average 12-month price target is $9.81, versus a recent share price of $4.65.
• Shares remain near their 12-month low: EVLV opened at $4.65, compared with a 12-month range of $4.61 to $8.81, and trades below both its 50-day and 200-day moving averages.
• Financial results were mixed: Evolv reported quarterly revenue of $43.75 million, above estimates, but its loss of $0.05 per share was wider than expected. A director also bought 19,100 shares, while institutional investors and hedge funds own 66.65% of the company.

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $9.81.

Several research analysts recently weighed in on EVLV shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Evolv Technologies in a research note on Tuesday. TD Cowen reiterated a "buy" rating and issued a $10.00 target price on shares of Evolv Technologies in a report on Tuesday, June 9th. Wall Street Zen raised shares of Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, August 30th. LADENBURG THALM/SH SH began coverage on shares of Evolv Technologies in a report on Tuesday, September 8th. They issued a "buy" rating and a $8.00 price target for the company. Finally, Craig Hallum restated a "buy" rating and issued a $11.25 price objective on shares of Evolv Technologies in a research report on Wednesday, August 12th.

Evolv Technologies Trading Down 1.3%

NASDAQ EVLV opened at $4.65 on Thursday. Evolv Technologies has a 12 month low of $4.61 and a 12 month high of $8.81. The stock has a 50-day simple moving average of $5.29 and a 200 day simple moving average of $5.81. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $842.25 million, a PE ratio of -155.00 and a beta of 1.80.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The company had revenue of $43.75 million for the quarter, compared to the consensus estimate of $41.80 million. Evolv Technologies had a negative return on equity of 4.53% and a negative net margin of 3.05%. Research analysts forecast that Evolv Technologies will post -0.2 EPS for the current year.

Insider Transactions at Evolv Technologies

In other Evolv Technologies news, Director Richard Shapiro purchased 19,100 shares of the stock in a transaction on Friday, September 4th. The stock was bought at an average cost of $4.96 per share, for a total transaction of $94,736.00. Following the completion of the acquisition, the director directly owned 39,000 shares of the company's stock, valued at $193,440. The trade was a 95.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Evolv Technologies

Several institutional investors and hedge funds have recently modified their holdings of EVLV. Stoic Point Capital Management LLC raised its holdings in Evolv Technologies by 1.4% during the 1st quarter. Stoic Point Capital Management LLC now owns 5,765,507 shares of the company's stock worth $34,881,000 after buying an additional 77,751 shares during the period. Emerald Advisers LLC increased its position in shares of Evolv Technologies by 3.9% during the first quarter. Emerald Advisers LLC now owns 4,333,055 shares of the company's stock worth $26,215,000 after acquiring an additional 161,812 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Evolv Technologies by 6.6% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 2,667,589 shares of the company's stock worth $16,139,000 after acquiring an additional 165,100 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Evolv Technologies by 118.5% during the fourth quarter. BNP Paribas Financial Markets now owns 1,407,644 shares of the company's stock worth $10,079,000 after acquiring an additional 763,412 shares during the period. Finally, Peregrine Capital Management LLC bought a new stake in Evolv Technologies in the 1st quarter valued at $9,722,000. 66.65% of the stock is currently owned by institutional investors and hedge funds.

About Evolv Technologies

Evolv Technologies Holdings, Inc develops artificial intelligence-enabled security screening systems designed to help organizations detect weapons and other threats. Its technology combines sensors, artificial intelligence and analytics to screen people as they enter facilities without requiring them to remove everyday items such as phones, keys or bags.

The company's primary products include Evolv Express, a system intended for high-throughput weapons screening, and Evolv Insights, a software platform that provides security teams with operational data and reporting.

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