Evolv Technologies (NASDAQ:EVLV) Earns “Buy” Rating from TD Cowen

Evolv Technologies (NASDAQ:EVLV)‘s stock had its “buy” rating reiterated by analysts at TD Cowen in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $10.00 target price on the stock. TD Cowen’s target price suggests a potential upside of 29.03% from the company’s previous close.

EVLV has been the topic of a number of other research reports. Cantor Fitzgerald raised Evolv Technologies to a “strong-buy” rating in a report on Wednesday, May 21st. Northland Capmk raised Evolv Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 20th. Wall Street Zen raised Evolv Technologies from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Lake Street Capital raised their target price on Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a report on Wednesday, May 21st. Finally, Northland Securities raised Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price objective on the stock in a report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Evolv Technologies has an average rating of “Buy” and an average price target of $8.88.

Evolv Technologies Stock Performance

Shares of EVLV stock opened at $7.75 on Friday. The stock’s fifty day moving average price is $6.22 and its two-hundred day moving average price is $4.72. The company has a market cap of $1.27 billion, a PE ratio of -14.09 and a beta of 1.70. Evolv Technologies has a fifty-two week low of $2.04 and a fifty-two week high of $8.91.

Evolv Technologies (NASDAQ:EVLV) 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 business had revenue of $26.68 million during the quarter, compared to analyst estimates of $30.95 million. Evolv Technologies had a negative net margin of 73.04% and a negative return on equity of 72.11%. On average, equities analysts predict that Evolv Technologies will post -0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolv Technologies

Several hedge funds have recently modified their holdings of EVLV. SCS Capital Management LLC bought a new position in Evolv Technologies during the 1st quarter worth $15,061,000. Marshall Wace LLP raised 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 worth $12,936,000 after purchasing an additional 2,489,825 shares during the last quarter. JPMorgan Chase & Co. raised 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 worth $6,036,000 after purchasing an additional 1,467,538 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in Evolv Technologies during the 2nd quarter worth $7,041,000. Finally, Metavasi Capital LP bought a new position in Evolv Technologies during the 2nd quarter worth $4,874,000. Institutional investors and hedge funds 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.