Evolv Technologies Holding Inc. (NASDAQ:EVLV) is considered one of the best small cap AI stocks to buy by analysts, with Lake Street raising its price target to $5.5. In Q1, Evolv reported a 44% increase in revenue to $32 million and a 34% growth in Annual Recurring Revenue to $106 million.

Evolv Technologies provides AI-based weapons detection for security screening in the US and internationally. The company has seen success in retaining customers and deploying units, but its market penetration remains low in schools and healthcare facilities.

While Evolv shows promise as an investment, some analysts believe other AI stocks offer greater potential with less risk. For those seeking an undervalued AI stock that could benefit from current trends, consider exploring other options in the market.

Read more at Yahoo Finance: Lake Street Raises Evolv Technologies (EVLV) Price Target to $5.5