Evolv Technologies Holdings Inc. (EVLV) PT Raised to $10.50 at Craig-Hallum

Craig-Hallum analyst Jeremy Hamblin raised the price target on Evolv Technologies Holdings Inc. (NASDAQ: EVLV) to $10.50 (from $10.00) while maintaining a Buy rating.

The analyst commented, "Evolv delivered another impressive top-line beat in Q4 and raised the FY26 outlook far more than could have been expected suggesting visibility on the business continues to improve. In addition, ARR growth rate was raised 250 bps for FY26 with management implying its target ending installed unit base had increased since the Q3 update. The eXpedite bag scanning product is rapidly gaining traction as the portion of new customers ordering both Express and eXpedite has increased to ~20% of new orders. The quarter saw some noise causing GM to miss forecasts as a higher mix of customers signed equipment purchase deals while the company also completed planned parts upgrades that created short-term impact. EVLV delivered impressive cash flow in Q4 and should alleviate any concerns about the need for capital. Overall, FY25 represented a year of remarkable progress with the company delivering ~40% revs growth, generating over 100% customer retention rates while resolving outstanding FTC/SEC inquiries, and turning profitability around with exceptional expense discipline leading to a stunning 2,800 bps improvement in Adj. EBITDA margins. We are reiterating our BUY rating and raising our Price Target to $10.50. "

You May Also Be Interested In

• Air T reports revenue jump but widens operating loss in Q1 fiscal 2027
• Silence Therapeutics closes $201M public offering of ADSs
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)