Enovix Corporation (ENVX) is listed among the 10 Best EV Stocks to Buy Heading into 2026. Northland analyst Gus Richard reduced the company’s price target to $16 from $25, citing slower-than-expected mobile phone revenue growth. Enovix raised over $500 million in Q3, but Northland found the delay in phone ramp-up disappointing.

Northland believes consensus forecasts for 2026 are too high, with its own projections now the lowest on the Street. In the latest quarter, Enovix reported an 85% YoY revenue increase to $8 million and a non-GAAP gross profit of $1.7 million. The firm ended the quarter with $648 million in cash and marketable securities.

Enovix Corporation is a Silicon Valley-based battery technology company focusing on commercializing the AI-1, the first consumer-ready 100% active silicon battery. While ENVX shows investment potential, Northland suggests other AI stocks may offer greater upside with less risk. Consider their free report on the best short-term AI stock.

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Read more at Yahoo Finance: Northland Maintains An Outperform Rating On Enovix Corporation (ENVX)