11 Small Cap EV Stocks to Buy According to Analysts

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7. Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Market Cap: $5.09 billion

Number of Hedge Fund Holders: 22

Analyst Upside Potential: 34.64%

Allegro MicroSystems, Inc. (NASDAQ:ALGM) is one of the Best Small Cap EV Stocks to Buy According to Analysts. Allegro MicroSystems, Inc. (NASDAQ:ALGM) is expected to release its fiscal second quarter results for 2026 on October 30, 2025. Wall Street has been bullish on the stock ahead of the company’s earnings release.

The company topped expectations during the FQ1 2026 results. Its revenue of $203.41 million grew 21.86% year-over-year, exceeding the expectations by $5.18 million. Moreover, the EPS of $0.09 also came in ahead of the consensus by $0.01. Management also released its outlook for the second quarter, noting that it expects net sales for the quarter to be in the range of $205 million to $215 million, the midpoint of which reflects 12% year-over-year growth. In addition, the gross margins are also expected to stay high between 48% and 50%.

On September 5, Thomas O’Malley from Barclays reiterated a Buy rating on the stock with a price target of $30. More recently, on September 11, Joshua Buchalter from TD Cowen also reiterated a Buy rating on the stock with a price target of $37.

Allegro MicroSystems, Inc. (NASDAQ:ALGM) is a technology company that develops power and sensing semiconductor solutions for motion control and energy-efficient systems.

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