Cantor Fitzgerald Reiterates Overweight Rating on Enovix Corporation (ENVX)

Cantor Fitzgerald analyst Derek Soderberg reiterated an Overweight rating and $25.00 price target on Enovix Corporation (NASDAQ: ENVX).

The analyst commented, "The lead smartphone customer confirmed Enovix cells passing more than 1,000 cycles under the accelerated cycle-life test, leaving one final accelerated test on the path to qualification, with completion expected in 4Q26. Smart eyewear moved from initial shipments to recognized revenue, and the company has line of sight to a roughly 9x sequential step up in 3Q shipments. The drone, defense, and industrial pipeline grew 41% to $183M. Non-GAAP gross margin of 19.9% was down from 26.3% in 1Q26 on Korea product mix. Enovix reported revenue of $9.0M at the high end of guidance and Non-GAAP EPS of ($0.13), both ahead of FactSet consensus of $8.4M/($0.15). We reiterate our Overweight rating and 12-month Price Target of $25."

For an analyst ratings summary and ratings history on Enovix Corporation click here. For more ratings news on Enovix Corporation click here.

Shares of Enovix Corporation closed at $4.73 yesterday.

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