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Investing.com - TD Cowen has reinstated coverage on Evolv Technologies Holdings Inc. (NASDAQ:EVLV), now valued at $1.21 billion, with a Buy rating and a $10.00 price target, according to a research note released Thursday. The stock, currently trading at $7.37, is near its 52-week high of $7.57, having delivered an impressive 104% return over the past year.
The reinstatement follows a suspension of coverage since October 25, 2024, and comes as new management has taken control of the company, financial restatements have been completed, and regulatory concerns have begun to diminish.
TD Cowen cited Evolv’s second-quarter results as "healthy" in its analysis, noting the company has raised its fiscal year 2025 revenue outlook to between $132 million and $135 million, representing year-over-year growth of 27% to 30%.
This revised guidance marks an increase from the company’s previous projection of 20% to 25% annual growth, signaling improved business momentum under the new leadership team.
Evolv has also raised its EBITDA margin targets to mid-single digits, further supporting TD Cowen’s positive outlook on the security technology firm’s financial trajectory.
In other recent news, Evolv Technologies Holdings Inc reported its Q2 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of -0.02 USD, outperforming the anticipated -0.05 USD. Additionally, Evolv Technologies generated revenue of 32.5 million USD, exceeding the forecasted 30.95 million USD. These results highlight the company’s stronger-than-expected financial performance for the quarter. Despite the positive earnings report, Evolv’s stock experienced a decline in after-hours trading. The stock closed at 7.39 USD, down from the previous close of 7.49 USD. These developments are part of the company’s recent financial activities.
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