Cantor Fitzgerald Forecasts Strong Price Appreciation for Evolv Technologies (NASDAQ:EVLV) Stock

Key Points

• Cantor Fitzgerald raised its price target for Evolv Technologies from $7.00 to $9.00, indicating a potential upside of 22.12% from the current stock price.
• Other analysts have upgraded Evolv Technologies' stock, with Lake Street Capital also setting a $9.00 price target, contributing to an average consensus price target of $8.88.
• Evolv Technologies reported a disappointing earnings result, missing the expected EPS by ($0.16) and revealing a revenue of $26.68 million, below estimates of $30.95 million.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) had its price objective boosted by investment analysts at Cantor Fitzgerald from $7.00 to $9.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 13.71% from the company's current price.

EVLV has been the subject of several other research reports. TD Cowen reiterated a "buy" rating and set a $10.00 price target on shares of Evolv Technologies in a research note on Friday, August 15th. Northland Capmk raised Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Lake Street Capital raised Evolv Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $5.50 to $9.00 in a report on Friday, August 15th. 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 research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded Evolv Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, Evolv Technologies currently has a consensus rating of "Buy" and a consensus target price of $8.88.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV traded up $0.0350 during trading on Friday, reaching $7.9150. 1,273,736 shares of the stock were exchanged, compared to its average volume of 2,400,062. Evolv Technologies has a 1-year low of $2.04 and a 1-year high of $8.91. The stock has a fifty day moving average of $6.32 and a two-hundred day moving average of $4.77. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -14.41 and a beta of 1.70.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.16). The firm had revenue of $26.68 million for the quarter, compared to analyst estimates 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 has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Evolv Technologies will post -0.27 EPS for the current year.

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds and other institutional investors have recently modified their holdings of EVLV. SCS Capital Management LLC bought a new position in Evolv Technologies in the first quarter worth approximately $15,061,000. Marshall Wace LLP boosted its position in Evolv Technologies by 317.1% during the 4th quarter. Marshall Wace LLP now owns 3,275,025 shares of the company's stock valued at $12,936,000 after acquiring an additional 2,489,825 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Evolv Technologies by 2,428.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,527,979 shares of the company's stock valued at $6,036,000 after acquiring an additional 1,467,538 shares in the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of Evolv Technologies in the 2nd quarter worth $7,041,000. Finally, Metavasi Capital LP acquired a new stake in shares of Evolv Technologies in the 2nd quarter worth $4,874,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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.