Evolent Health (NYSE:EVH) Given New $10.00 Price Target at Truist Financial

Evolent Health (NYSE:EVH) had its target price lowered by Truist Financial from $16.00 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 93.99% from the stock’s previous close.

A number of other equities research analysts have also commented on EVH. Canaccord Genuity Group restated a “buy” rating and set a $16.00 price objective on shares of Evolent Health in a report on Tuesday, September 9th. Zacks Research cut Evolent Health from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Stephens reiterated an “equal weight” rating and set a $9.00 price objective on shares of Evolent Health in a report on Wednesday, September 24th. BTIG Research dropped their target price on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Sandler lifted their price target on shares of Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.79.

Evolent Health Stock Up 3.9%

Shares of NYSE EVH traded up $0.20 during mid-day trading on Monday, reaching $5.16. 1,959,091 shares of the company’s stock were exchanged, compared to its average volume of 2,710,074. Evolent Health has a twelve month low of $4.90 and a twelve month high of $15.56. 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 $605.76 million, a price-to-earnings ratio of -3.20 and a beta of 0.58. The business has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $9.04.

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 positive return on equity of 1.83% and a negative net margin of 5.94%.The business had revenue of $427.70 million during the quarter. As a group, equities analysts expect that Evolent Health will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Durable Capital Partners LP acquired a new position in shares of Evolent Health during the second quarter worth $72,326,000. 8 Knots Management LLC bought a new stake in Evolent Health in the second quarter valued at approximately $32,802,000. Goldman Sachs Group Inc. lifted its position in shares of Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock worth $26,861,000 after purchasing an additional 1,754,520 shares during the period. Eventide Asset Management LLC raised its stake in Evolent Health by 33.5% during the first quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company’s stock worth $57,555,000 after buying an additional 1,524,885 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in Evolent Health during the 2nd quarter worth about $15,680,000.

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.