Evolv Technologies (NASDAQ:EVLV) Posts Earnings Results, Misses Expectations By $0.16 EPS

Key Points

• Evolv Technologies reported earnings of ($0.25) per share, missing analysts' expectations and generating a revenue of $26.68 million, below the anticipated $30.95 million.
• The company's stock has seen upgrades from multiple firms, with Cantor Fitzgerald raising its price target from $7.00 to $9.00 and a consensus target price of $8.88 among analysts.
• Institutional investors own 66.65% of Evolv Technologies' stock, with notable increases in stakes from firms like CW Advisors and BNP Paribas Financial Markets during the recent quarter.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16), Zacks reports. The company had revenue of $26.68 million for the quarter, compared to the consensus estimate of $30.95 million. Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%. Evolv Technologies updated its FY 2025 guidance to EPS.

Evolv Technologies Stock Performance

Shares of NASDAQ:EVLV traded down $0.15 during trading hours on Thursday, hitting $7.83. 1,957,019 shares of the company's stock traded hands, compared to its average volume of 3,530,148. Evolv Technologies has a 52 week low of $2.04 and a 52 week high of $8.91. The company's fifty day simple moving average is $6.37 and its two-hundred day simple moving average is $4.79.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Lake Street Capital upgraded Evolv Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $5.50 to $9.00 in a research note on Friday, August 15th. Northland Capmk upgraded Evolv Technologies from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. TD Cowen restated a "buy" rating and set a $10.00 price objective on shares of Evolv Technologies in a research note on Friday, August 15th. Finally, Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 price objective for the company in a research note on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $8.88.

Hedge Funds Weigh In On Evolv Technologies

Large investors have recently made changes to their positions in the business. CW Advisors LLC boosted its position in shares of Evolv Technologies by 19.0% during the 2nd quarter. CW Advisors LLC now owns 12,614 shares of the company's stock valued at $79,000 after purchasing an additional 2,014 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Evolv Technologies by 38.3% during the second quarter. BNP Paribas Financial Markets now owns 12,985 shares of the company's stock worth $81,000 after purchasing an additional 3,596 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Evolv Technologies during the second quarter worth $94,000. Tower Research Capital LLC TRC raised its position in shares of Evolv Technologies by 300.1% during the second quarter. Tower Research Capital LLC TRC now owns 20,577 shares of the company's stock worth $128,000 after purchasing an additional 15,434 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in shares of Evolv Technologies in the 2nd quarter valued at $131,000. Institutional investors own 66.65% of the company's stock.

Evolv Technologies Company Profile

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.