Why Analysts Favor Evolv Technologies (EVLV)

Evolv Technologies Holdings Inc. (NASDAQ:EVLV) is one of the most promising small-cap industrial stocks under $50.

On December 22, Northland Securities analyst Michael Latimore reaffirmed his bullish view on Evolv Technologies Holdings Inc. (NASDAQ:EVLV). He assigned a Buy rating to the stock with a price target of $9.5, which offers nearly 38% upside potential to investors.

The consensus sentiment towards Evolv Technologies Holdings Inc. (NASDAQ:EVLV) is also positive. As of the December 22 closing, the stock has received Buy ratings from all four analysts covering it. Such bullish consensus has resulted in an estimated 1-year average price target of $9.83. This implies a 39.4% upside from the current level.

On December 16, the company announced a major development regarding its Evolv Express product. The product has been deployed at Pechanga Arena, which is a 14,000-seater multi-purpose sports and entertainment venue in San Diego. This is another addition to Evolv Technologies Holdings’ (NASDAQ:EVLV) expanding footprint across key venues in the state.

Evolv Technologies Holdings Inc. (NASDAQ:EVLV) is a security technology company that offers AI-enabled end-to-end security solutions. With human security at its core, the company delivers AI-driven security screening and analytics covering public venues, hospitals, and schools.

While we acknowledge the potential of EVLV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.