12 Best AI Stocks to Invest in According to Reddit

9. Evolv Technologies Holdings Inc. (NASDAQ:EVLV)

Number of Hedge Fund Holders: 19

Evolv Technologies Holdings Inc. (NASDAQ:EVLV) provides AI-driven weapons detection for security screening. Its Evolv Express system uses advanced AI to detect concealed weapons without requiring physical contact, while Evolv Insights offers real-time data and analytics for optimized security operations.

The company reported strong Q4 2024 growth which was driven by its AI-powered Evolv Express weapons detection system. The company deployed ~470 new multi-year subscriptions, which surpassed 6,000 units globally and added 60 new customers across various industries. This included significant expansion in education, where it served over 1,200 school buildings, and healthcare, where it served over 450 hospital buildings. The company also booked initial orders for its new AI-based bag screening solution, Evolv eXpedite.

Given these updates, Craig-Hallum increased Evolv Technologies Holdings Inc.’s (NASDAQ:EVLV) price target to $6.75, while maintaining a Buy rating. With $52 million in cash and no debt, the company reaffirms its outlook for positive Adjusted EBITDA by Q2 2025. This highlights the growing market adoption of its AI-driven security technology.