Brokerages Set Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Price Target at $6.50

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $6.50.

Several brokerages have recently issued reports on EVLV. Lake Street Capital boosted their price objective on Evolv Technologies from $4.00 to $5.50 and gave the company a “hold” rating in a report on Wednesday, May 21st. 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. Finally, Northland Securities raised Evolv Technologies from a “market perform” rating to an “outperform” rating and set a $7.50 price objective for the company in a report on Wednesday, May 21st.

Hedge Funds Weigh In On Evolv Technologies

A number of large investors have recently bought and sold shares of EVLV. SCS Capital Management LLC acquired a new position in shares of Evolv Technologies during the first quarter valued at approximately $15,061,000. Marshall Wace LLP raised its holdings in shares of Evolv Technologies by 317.1% during the fourth 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 during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Evolv Technologies by 2,428.1% during the fourth 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Evolv Technologies by 5.3% during the first quarter. Vanguard Group Inc. now owns 9,402,716 shares of the company’s stock valued at $29,336,000 after acquiring an additional 477,124 shares during the last quarter. Finally, Josh Arnold Investment Consultant LLC acquired a new position in shares of Evolv Technologies during the first quarter valued at approximately $1,248,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Evolv Technologies Stock Performance

Evolv Technologies stock opened at $7.24 on Tuesday. The business’s 50-day simple moving average is $6.05 and its two-hundred day simple moving average is $4.62. The company has a market cap of $1.19 billion, a PE ratio of -25.86 and a beta of 1.70. Evolv Technologies has a fifty-two week low of $2.04 and a fifty-two week high of $7.45.

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

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.