Evolent Health (NYSE:EVH) Given New $6.00 Price Target at Canaccord Genuity Group

Evolent Health (NYSE:EVH) had its price target reduced by Canaccord Genuity Group from $7.00 to $6.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 51.59% from the company’s previous close.

EVH has been the topic of a number of other reports. Citigroup reissued a “sell” rating and set a $6.75 target price (up from $5.50) on shares of Evolent Health in a report on Thursday, July 23rd. Truist Financial cut shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, June 30th. Needham & Company LLC increased their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Finally, TD Cowen reduced their target price on shares of Evolent Health from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Evolent Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.09.

Evolent Health Trading Up 0.2%

Shares of NYSE:EVH opened at $3.96 on Monday. Evolent Health has a 52-week low of $2.10 and a 52-week high of $10.08. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $445.20 million, a P/E ratio of -0.87 and a beta of 0.79. The company has a 50-day simple moving average of $4.75 and a 200 day simple moving average of $3.72.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $484.50 million for the quarter, compared to the consensus estimate of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The business’s revenue was up 46.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share. Sell-side analysts forecast that Evolent Health will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC boosted its stake in Evolent Health by 4,000.0% in the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after buying an additional 4,000 shares in the last quarter. Strs Ohio acquired a new stake in shares of Evolent Health in the 1st quarter valued at approximately $47,000. Headlands Technologies LLC acquired a new stake in shares of Evolent Health in the 2nd quarter valued at approximately $58,000. Quantbot Technologies LP bought a new stake in shares of Evolent Health during the 3rd quarter valued at approximately $88,000. Finally, Caxton Associates LLP acquired a new position in Evolent Health during the 3rd quarter worth approximately $93,000.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.