Evolv Technologies' (EVLV) "Buy" Rating Reiterated at TD Cowen

Key Points

• TD Cowen has reaffirmed a buy rating for Evolv Technologies (NASDAQ:EVLV) with a target price of $10.00, indicating a potential upside of 35.69% from its current stock price.
• Recent upgrades from multiple firms have improved Evolv's consensus rating to "Buy" with an average target price of $8.83, suggesting growing confidence in the company's prospects.
• Evolv Technologies reported a loss of $0.25 EPS in its recent earnings, missing analysts' estimates, which contributes to a negative net margin of 38.97% and a projected earnings per share of -0.27 for the current year.

TD Cowen restated their buy rating on shares of Evolv Technologies (NASDAQ:EVLV - Free Report) in a research note released on Friday morning, Marketbeat Ratings reports. TD Cowen currently has a $10.00 price objective on the stock.

Several other brokerages have also recently issued reports on EVLV. Wall Street Zen upgraded shares of Evolv Technologies from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Cantor Fitzgerald raised shares of Evolv Technologies to a "strong-buy" rating in a research report on Wednesday, May 21st. Lake Street Capital lifted their price target on shares of Evolv Technologies from $4.00 to $5.50 and gave the company a "hold" rating in a report on Wednesday, May 21st. Northland Capmk raised shares of Evolv Technologies from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 20th. Finally, Northland Securities upgraded Evolv Technologies from a "market perform" rating to an "outperform" rating and set a $7.50 target price for the company in a report 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's stock. According to MarketBeat, Evolv Technologies currently has an average rating of "Buy" and a consensus price target of $8.88.

Evolv Technologies Price Performance

Shares of NASDAQ EVLV traded up $0.0150 during midday trading on Friday, reaching $7.8950. The company's stock had a trading volume of 1,184,557 shares, compared to its average volume of 2,399,381. The stock has a market capitalization of $1.36 billion, a P/E ratio of -14.37 and a beta of 1.70. Evolv Technologies has a 12-month low of $2.04 and a 12-month high of $8.91. The firm has a 50 day moving average price of $6.32 and a 200-day moving average price of $4.77.

Evolv Technologies (NASDAQ:EVLV - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.16). Evolv Technologies had a negative return on equity of 76.80% and a negative net margin of 73.04%.The firm had revenue of $26.68 million during the quarter, compared to analysts' expectations of $30.95 million. Evolv Technologies has set its FY 2025 guidance at EPS. On average, equities analysts predict that Evolv Technologies will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Evolv Technologies

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Evolv Technologies by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company's stock worth $29,336,000 after purchasing an additional 477,124 shares during the last quarter. SCS Capital Management LLC acquired a new stake in Evolv Technologies during the first quarter worth approximately $15,061,000. Marshall Wace LLP lifted its position in shares of Evolv Technologies by 74.4% during the 2nd quarter. Marshall Wace LLP now owns 3,899,155 shares of the company's stock worth $24,331,000 after buying an additional 1,662,797 shares during the last quarter. Key Colony Management LLC boosted its holdings in shares of Evolv Technologies by 2.0% in the 2nd quarter. Key Colony Management LLC now owns 3,105,000 shares of the company's stock valued at $19,375,000 after buying an additional 62,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Evolv Technologies by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,856,173 shares of the company's stock valued at $11,284,000 after buying an additional 35,426 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors and hedge funds.

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.