Evolent Health, Inc (NYSE:EVH) Receives $6.00 Consensus PT from Brokerages

Shares of Evolent Health, Inc (NYSE:EVH) have been given an average rating of “Moderate Buy” by the seventeen analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $6.00.

A number of equities analysts have commented on the company. Citigroup lifted their price target on Evolent Health from $4.00 to $5.50 and gave the stock a “buy” rating in a research note on Friday, May 15th. Canaccord Genuity Group lifted their price target on Evolent Health from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC lifted their price target on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research note on Friday, March 27th. Finally, BTIG Research decreased their price target on Evolent Health from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $4.64 on Thursday. The stock has a market cap of $522.36 million, a price-to-earnings ratio of -0.98 and a beta of 0.84. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46. Evolent Health has a 1-year low of $2.10 and a 1-year high of $12.06. The stock’s 50-day moving average is $3.39 and its 200 day moving average is $3.47.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $496.25 million for the quarter, compared to analysts’ expectations of $534.00 million. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.Evolent Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. On average, sell-side analysts anticipate that Evolent Health will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

A number of large investors have recently bought and sold shares of EVH. R Squared Ltd purchased a new position in Evolent Health in the 1st quarter worth approximately $26,000. CIBC Private Wealth Group LLC grew its position in shares of Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after buying an additional 4,000 shares during the last quarter. Strs Ohio bought a new stake in shares of Evolent Health in the 1st quarter worth approximately $47,000. Vise Technologies Inc. bought a new stake in shares of Evolent Health in the 4th quarter worth approximately $50,000. Finally, Royal Bank of Canada grew its position in shares of Evolent Health by 51.6% in the 1st quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after buying an additional 8,563 shares during the last quarter.

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.