From a valuation standpoint, the envx stock forecast reflects a forward P/E ratio slightly below the battery industry average, suggesting potential undervaluation if earnings growth meets expectations. Overall ENVX ranks 6th on our list of the small-cap EV stocks to invest in. While we acknowledge the potential of ENVX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ENVX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock . Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and set a $12.00 price objective (up previously from $9.00) on shares of Enovix in a research report on Thursday, July 24th. Cowen reissued a "hold" rating on shares of Enovix in a research report on Tuesday, July 8th. Craig Hallum reaffirmed a "buy" rating and set a $15.00 target price (up previously from $12.00) on shares of Enovix in a report on Tuesday, July 8th. Canaccord Genuity Group boosted their target price on shares of Enovix from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Monday, August 4th. Finally, Wall Street Zen cut shares of Enovix from a "hold" rating to a "sell" rating in a research report on Saturday, September 6th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Enovix presently has an average rating of "Moderate Buy" and a consensus price target of $17.00. Analyst notes cite increased production capacity and expanding order backlogs.
