On May 26, 2023, Cantor Fitzgerald analyst Brett Knoblauch shared his positive outlook on Evolv Technologies (NASDAQ:EVLV) by reiterating an Overweight rating and maintaining a $7.1 price target. This is a significant increase from the previous price target of $6.20, indicating that Knoblauch has high expectations for the company’s future performance.
Interestingly, the average one-year price target for Evolv Technologies Holdings Inc is $5.34, with projections ranging from a low of $2.02 to a high of $7.35. This suggests that while Knoblauch is bullish on the company’s prospects, other analysts may not be as optimistic.
It remains to be seen how Evolv Technologies will fare in the coming months and years, but Knoblauch’s endorsement is certainly a positive sign for the company and its investors.
EVLV Stock Update: Fluctuating Prices and Negative Earnings Growth in the Electronic Equipment/Instruments Industry
On May 26, 2023, EVLV stock opened at 5.59, slightly lower than the previous day’s close of 5.61. Throughout the day, the stock’s price fluctuated between 5.51 and 5.80. The total volume for the day was 48,491 shares, significantly lower than the average volume of 921,149 shares over the past three months. The market cap for EVLV was $819.3M.
EVLV is in the Electronic Equipment/Instruments industry. EVLV’s earnings growth over the past year has been negative, with a decrease of 296.44%. This year, the company has seen a slight increase in earnings growth of 1.20%, and is projected to see a 2.00% growth over the next five years. Last year, EVLV saw a significant increase in revenue growth of 132.97%. However, the company’s net profit margin was -156.55%, indicating that the company is not currently profitable. The price-to-sales ratio for EVLV is 6.75, and the price-to-book ratio is 3.53.
The company is set to report its next earnings on August 14, 2023, with an EPS forecast of -$0.12. Despite the lackluster performance of EVLV in recent years, the Electronic Equipment/Instruments industry is expected to continue growing.
EVLV Stock Price Forecast: Analysts Predict 23.67% Increase, Despite Concerns Over Current Quarter Earnings
On May 26, 2023, Evolv Technologies Holdings Inc (EVLV) had a median target price of $7.00, according to six analysts offering 12-month price forecasts. The high estimate was $7.10, while the low estimate was $2.00. The median estimate represented a 23.67% increase from the last price of $5.66. The current consensus among the six polled investment analysts was to buy stock in EVLV, and this rating had held steady since April. However, the company’s current quarter earnings per share were -$0.12, which was a cause for concern. The reporting date for the current quarter was set for August 14, 2023, and investors would be looking forward to the release of the financial results to assess the company’s performance.
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