Evolent Health, Inc (NYSE:EVH) Receives $12.86 Average Target Price from Analysts

Evolent Health, Inc (NYSE:EVH) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $12.50.

A number of brokerages have issued reports on EVH. Piper Sandler upped their price objective on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. BTIG Research cut their target price on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Zacks Research raised Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. dropped their price target on Evolent Health from $13.00 to $7.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Oppenheimer cut their price objective on Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th.

Evolent Health Trading Up 2.7%

NYSE EVH opened at $3.97 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $443.50 million, a P/E ratio of -2.47 and a beta of 0.58. The business has a fifty day simple moving average of $7.42 and a 200 day simple moving average of $8.78. Evolent Health has a 12 month low of $3.66 and a 12 month high of $13.61.

Evolent Health (NYSE:EVH) last posted its earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share (EPS) for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The firm had revenue of $427.70 million during the quarter. On average, analysts predict that Evolent Health will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently added to or reduced their stakes in EVH. Banque Cantonale Vaudoise bought a new stake in Evolent Health in the first quarter worth about $25,000. Nisa Investment Advisors LLC grew its position in shares of Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after acquiring an additional 1,194 shares during the period. Parallel Advisors LLC grew its position in shares of Evolent Health by 82.6% during the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after acquiring an additional 1,577 shares during the period. Strs Ohio purchased a new stake in shares of Evolent Health during the 1st quarter worth approximately $47,000. Finally, US Bancorp DE raised its holdings in shares of Evolent Health by 291.0% in the 1st quarter. US Bancorp DE now owns 5,153 shares of the technology company’s stock worth $49,000 after purchasing an additional 3,835 shares during the period.

Evolent Health Company Profile

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.