Evolv initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Brett Knoblauch initiated coverage of Evolv with an Overweight rating and $5.40 price target. With the company no longer being capital constrained Cantor Fitzgerald believes Evolv can now invest in its go-to-market strategy to further support the significant growth it has seen over prior quarters, the analyst tells investors in a research note. The firm thinks shares are attractive with "ample" balance sheet liquidity to get to positive free cash flow.