By Josh Beckerman
Shares of security screening company Evolv Technologies Holdings rose 31% Friday to $7.63 after it said Thursday that second-quarter revenue more than doubled and that it has raised 2023 guidance.
The intraday peak of $7.69 marked a 52-week high. The 52-week low of $1.98 took place on Dec. 2, 2022.
Revenue increased to $19.8 million from $9.1 million in the prior year’s second quarter. For the year, Evolv expects $70 million to $75 million in revenue, compared with its previous outlook of $60 million to $65 million.
Adjusted loss per share narrowed to 10 cents from 12 cents.
Stifel raised its price target to $5 from $2, while Craig-Hallum increased its target to $10 from $7.
Write to Josh Beckerman at [email protected]
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