Evolent Health (NYSE:EVH) Receives Buy Rating from Needham & Company LLC

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $15.00 target price on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 40.02% from the company’s previous close.

A number of other research analysts have also commented on EVH. Truist Financial lowered their price target on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Stephens reduced their target price on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada dropped their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a report on Friday, February 14th. Finally, Oppenheimer decreased their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $17.92.

Evolent Health Stock Up 1.8 %

Shares of Evolent Health stock opened at $10.71 on Friday. The company’s 50 day moving average price is $10.77 and its 200-day moving average price is $18.92. Evolent Health has a 52-week low of $9.45 and a 52-week high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -11.77 and a beta of 1.45.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. Equities research analysts forecast that Evolent Health will post 0.22 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Several hedge funds have recently bought and sold shares of EVH. Wellington Management Group LLP increased its stake in shares of Evolent Health by 12.8% during the third quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Evolent Health by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after buying an additional 259,781 shares during the last quarter. Engaged Capital LLC increased its position in Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after buying an additional 1,415,300 shares in the last quarter. Cadian Capital Management LP purchased a new position in Evolent Health during the fourth quarter valued at $58,781,000. Finally, Eventide Asset Management LLC boosted its holdings in Evolent Health by 1.7% in the third quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares in the last quarter.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.