Evoke (LON:EVOK) Shares Down 9.6% After Analyst Downgrade

Shares of Evoke plc (LON:EVOK) fell 9.6% during trading on Friday after Berenberg Bank downgraded the stock to a hold rating. Berenberg Bank now has a GBX 35 price target on the stock, down from their previous price target of GBX 95. Evoke traded as low as GBX 26.10 and last traded at GBX 26.50. 8,449,295 shares traded hands during mid-day trading, an increase of 230% from the average session volume of 2,564,155 shares. The stock had previously closed at GBX 29.30.

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their price target on Evoke from GBX 88 to GBX 108 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. cut their price objective on shares of Evoke from GBX 82 to GBX 66 and set a “neutral” rating for the company in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 87.25.

Evoke Price Performance

The business’s 50-day simple moving average is GBX 42.33 and its 200-day simple moving average is GBX 53.93. The company has a market cap of £119.17 million, a price-to-earnings ratio of -1.06 and a beta of 0.84.

About Evoke