#4 - Evolv Technologies (NASDAQ:EVLV)
Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) is using AI to “evolve” traditional metal detection systems. Specifically, the company’s AI-driven solution analyzes radio frequency (RF) waves to distinguish between a weapon and other metallic devices.
This system is an improvement upon existing millimeter wave scanners that can’t discern one metallic object from another. That’s why people have to follow certain procedures (removing keys, raising their hands, removing shoes) as they move through security checkpoints. The Evolv solution allows people to move through at their regular pace without any of these steps.
That gives the company a huge addressable market. The company generated $19 million in its most recent quarter, but the company is forecasting that it will deliver $20 billion in annual revenue at some point in the future.
This is a small-cap company that is not yet profitable. But in 2023, it’s drawing significant interest from institutional investors. If that trend continues, EVLV stock will likely become a fast-moving AI stock.
About Evolv Technologies
Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.
Read More - Current Price
- $3.11
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $5.60 (80.1% Upside)
