Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has received an average rating of "Moderate Buy" from analysts, with a twelve-month target price averaging $6.50.
• Recent research upgrades include evaluations from Northland Capital and Cantor Fitzgerald, which have both assigned a "strong buy" rating to the stock.
• The company reported earnings per share of ($0.01) for the last quarter, exceeding expectations and generating revenue of $32.01 million, significantly higher than the consensus estimate.

Shares of Evolv Technologies Holdings, Inc. (NASDAQ:EVLV - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.50.

A number of equities analysts have weighed in on EVLV shares. Lake Street Capital boosted their target price on shares of Evolv Technologies from $4.00 to $5.50 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Northland Capmk upgraded shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Cantor Fitzgerald raised shares of Evolv Technologies to a "strong-buy" rating in a research note on Wednesday, May 21st. Wall Street Zen raised Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price target on the stock in a report on Wednesday, May 21st.

Evolv Technologies Trading Down 2.0%

Evolv Technologies stock traded down $0.14 on Tuesday, reaching $6.98. 1,599,472 shares of the stock were exchanged, compared to its average volume of 2,281,386. The stock has a market cap of $1.14 billion, a PE ratio of -24.93 and a beta of 1.70. The firm has a fifty day moving average price of $5.95 and a two-hundred day moving average price of $4.53. Evolv Technologies has a twelve month low of $2.04 and a twelve month high of $7.22.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.07. Evolv Technologies had a negative return on equity of 34.13% and a negative net margin of 38.97%. The business had revenue of $32.01 million for the quarter, compared to analysts' expectations of $26.40 million. Equities analysts anticipate that Evolv Technologies will post -0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. bought a new stake in shares of Evolv Technologies in the 4th quarter valued at $40,000. CW Advisors LLC purchased a new position in Evolv Technologies during the first quarter worth about $33,000. Teacher Retirement System of Texas bought a new position in shares of Evolv Technologies in the first quarter valued at approximately $50,000. PDT Partners LLC bought a new position in shares of Evolv Technologies in the first quarter valued at approximately $57,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Evolv Technologies during the fourth quarter valued at approximately $73,000. Institutional investors and hedge funds own 66.65% of the company's stock.

About Evolv Technologies

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.