Aeva Technologies’ (AEVA) Multibagger Momentum Fueled by LiDAR Innovation in $80 Billion Market

Aeva Technologies Inc. (NASDAQ:AEVA) is one of the best multibagger stocks to invest in right now. The company develops next-generation 4D-LiDAR sensors for autonomous driving and industrial applications. It utilizes a technology known as frequency-modulated continuous wave (FMCW) technology, which enables it to provide superior range, velocity detection, and resistance to interference compared to traditional LiDAR systems.

Aeva (AEVA) Multibagger Momentum Fueled by LiDAR Innovation in $80 Billion Market

Its addressable market spans $80 billion across mobility, defense, robotics, and consumer applications. With $500 million invested in R&D and over 245 granted patents, Aeva Technologies Inc. (NASDAQ:AEVA) has established a defensible technology moat.

Aeva Technologies Inc. (NASDAQ:AEVA) is already engaging with top automotive OEMs, heavy-duty trucking leaders, and industrial automation partners, supported by collaborations with manufacturing specialists like Jabil and Tower Semiconductor. This strong roster of partners is expected to help the company bring 4D-LiDAR to mass scale.

The majority of analysts are optimistic on Aeva Technologies Inc. (NASDAQ:AEVA), with the latest being George Gianarikas from Canaccord Genuity, who reiterated his Buy rating and raised his price target from $16 to $24 in early August. The company’s stock has surged nearly 180% this year, justifying the positive views.

Aeva Technologies, Inc. (NASDAQ:AEVA) designs and manufactures advanced LiDAR sensing systems and perception software, using Frequency Modulated Continuous Wave (FMCW) sensing.

While we acknowledge the potential of AEVA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AEVA and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.