Analyst Shaul Eyal of TD Cowen reiterated a Buy rating on Evolv Technologies Holdings, retaining the price target of $10.00.
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Shaul Eyal has given his Buy rating due to a combination of factors that highlight Evolv Technologies Holdings’ strong performance and future potential. The company reported impressive third-quarter results for 2025, with a significant revenue increase of 57% year-over-year, surpassing market expectations. This growth is supported by their largest contract to date and a strong booked-to-deployed ratio, indicating robust demand for their solutions.
Additionally, Evolv Technologies has shown promising developments in its product offerings, particularly with its AI-powered bag screening solution, Expedite, which is gaining traction among new customers. The strategic partnership with Plexus to enhance manufacturing capabilities further strengthens the company’s position. Looking ahead, Evolv Technologies is optimistic about its growth trajectory, with plans to expand unit deployments and maintain stable ARPU trends, projecting revenue growth into 2026. These factors collectively justify the Buy rating and the $10 price target set by Eyal.
Eyal covers the Technology sector, focusing on stocks such as Okta, Cellebrite DI, and Palo Alto Networks. According to TipRanks, Eyal has an average return of 25.5% and a 66.94% success rate on recommended stocks.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $9.00 price target.