Lake Street Downgrades Evolv Technologies to Hold, Lowers Price Target to $3.5
Portfolio Pulse from Benzinga Newsdesk
Lake Street analyst Eric Martinuzzi has downgraded Evolv Technologies (EVLV) from Buy to Hold and reduced the price target from $6 to $3.5.
May 10, 2024 | 1:25 pm
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NEGATIVE IMPACT
Evolv Technologies was downgraded by Lake Street from Buy to Hold, with a significant reduction in price target from $6 to $3.5.
Downgrades by analysts, especially with a significant reduction in price target, typically lead to negative short-term price movements as they reflect a less optimistic view on the company's future performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100