Shaul Eyal, an analyst from TD Cowen, reiterated the Buy rating on Evolv Technologies Holdings. The associated price target remains the same with $10.00.
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Shaul Eyal has given his Buy rating due to a combination of factors including strong demand and strategic improvements at Evolv Technologies Holdings. The company is expected to report solid third-quarter results, driven by healthy demand across key sectors such as education and sports/entertainment. The sentiment around EVLV has improved significantly, aided by the resolution of regulatory and civil issues, as well as new leadership and strategic adjustments.
Additionally, Evolv has been actively expanding its product offerings and enhancing its solutions, which include the launch of eXpedite for concealed weapon detection and the Eva mobile safety app. The company has also renewed significant partnerships, such as with Gillette Stadium, and secured new agreements like the one with the Buffalo Sabres. These developments, along with positive financial guidance and expectations of becoming cash flow positive by the fourth quarter of 2025, contribute to Eyal’s optimistic outlook and Buy rating.
According to TipRanks, Eyal is a top 100 analyst with an average return of 26.4% and a 69.22% success rate. Eyal covers the Technology sector, focusing on stocks such as Palo Alto Networks, Fortinet, and Okta.