Officers were called to reports that a man had been assaulted in Charnwood Avenue at approximately 21:00.
He was taken to a local medical facility where his condition is described as stable, but he has potentially life-threatening injuries.
Investigative enquiries are continuing at pace and Essex Police would appeal to anyone who may have been in the area at the time and witnessed the incident or has any footage to contact them immediately.
"We know this incident will be concerning to people and we are working round the clock to understand what has happened and find the person responsible."
DI Turnbull, concludes:
"We believe this is an isolated incident. However, we want to hear from anyone who was in the area. Any piece of information could be vital in helping us with our investigation."
Those who wish to remain anonymous can do so by giving information to the independent charity CrimeStoppers on 0800555111.