Evolv Technologies (EVLV, Financial) has been notified by Nasdaq about a potential delisting due to non-compliance with listing requirements. This warning arises from the company's failure to timely submit its Annual Report on Form 10-K for the fiscal year ending December 31, 2024. The delay stems from an internal investigation focusing on revenue recognition issues, which necessitates financial restatements.
To address the situation, Nasdaq has instructed Evolv to submit a detailed plan by May 1 outlining how it intends to achieve compliance. The company is required to resolve all outstanding filings by May 19 to avoid delisting. Currently, Evolv is diligently working to finalize and submit both its overdue Annual Report and its Q3 2024 Form 10-Q to meet the regulatory requirements.
Investors and stakeholders are closely monitoring the situation, as Evolv's ability to rectify these issues and meet the outlined deadlines will be crucial for maintaining its Nasdaq listing.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for Evolv Technologies Holdings Inc (EVLV, Financial) is $5.17 with a high estimate of $6.75 and a low estimate of $2.75. The average target implies an upside of 61.96% from the current price of $3.19. More detailed estimate data can be found on the Evolv Technologies Holdings Inc (EVLV) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, Evolv Technologies Holdings Inc's (EVLV, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Evolv Technologies Holdings Inc (EVLV, Financial) in one year is $9.61, suggesting a upside of 201.25% from the current price of $3.19. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Evolv Technologies Holdings Inc (EVLV) Summary page.
