Evolent Health, Inc (NYSE:EVH) Receives $6.04 Consensus Target Price from Analysts

Shares of Evolent Health, Inc (NYSE:EVH) have received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $5.9643.

Several brokerages have recently weighed in on EVH. Needham & Company LLC increased their price target on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup upgraded Evolent Health from a “neutral” rating to a “buy” rating and reduced their target price for the company from $6.75 to $6.00 in a report on Monday, August 10th. TD Cowen increased their target price on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Monday. Finally, Canaccord Genuity Group lowered their price target on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, August 10th.

Institutional Investors Weigh In On Evolent Health

Large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Evolent Health by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 3,572 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after purchasing an additional 4,000 shares during the period. Strs Ohio purchased a new stake in Evolent Health during the 1st quarter worth about $47,000. Headlands Technologies LLC bought a new position in Evolent Health in the 2nd quarter worth about $58,000. Finally, Osaic Holdings Inc. grew its holdings in Evolent Health by 99.2% during the 2nd quarter. Osaic Holdings Inc. now owns 11,119 shares of the technology company’s stock valued at $125,000 after buying an additional 5,537 shares in the last quarter.

Evolent Health Trading Up 2.6%

Shares of NYSE EVH opened at $4.70 on Tuesday. The firm has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $3.77. The stock has a market cap of $531.38 million, a P/E ratio of -1.03 and a beta of 0.79. 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.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $484.50 million for the quarter, compared to analyst estimates of $597.70 million. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. Evolent Health’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. As a group, equities analysts forecast that Evolent Health will post -0.2 EPS for the current year.

About Evolent Health

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.