Evolv price target raised to $4 from $2.75 at Lake Street

Lake Street raised the firm’s price target on Evolv (EVLV) to $4 from $2.75 and keeps a Hold rating on the shares. The firm’s “two takeaways” from Evolv’s financial restatement and results are that ARR is “on track” and that profits were “well ahead of our expectations,” the analyst tells investors. The updated filings derisk the investment, says the analyst, who expects new management to “roll up their sleeves and drive the company to new levels of operational excellence.”