Evolent Health (NYSE:EVH) Price Target Lowered to $9.00 at Canaccord Genuity Group

Evolent Health (NYSE:EVH) had its price target decreased by equities research analysts at Canaccord Genuity Group from $16.00 to $9.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 116.61% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Evolent Health in a research note on Thursday. They set an “outperform” rating and a $7.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday, October 8th. BTIG Research decreased their target price on shares of Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Stephens raised shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Thursday. Finally, Truist Financial dropped their target price on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Evolent Health currently has an average rating of “Moderate Buy” and an average target price of $12.86.

Evolent Health Trading Down 0.1%

Shares of EVH traded down $0.01 during mid-day trading on Friday, reaching $4.16. The company’s stock had a trading volume of 4,407,233 shares, compared to its average volume of 2,837,048. The stock has a market cap of $488.25 million, a PE ratio of -2.58 and a beta of 0.58. The company’s fifty day moving average price is $7.77 and its two-hundred day moving average price is $8.92. Evolent Health has a 52 week low of $4.01 and a 52 week high of $13.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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. The company had revenue of $427.70 million for the quarter. Evolent Health had a positive return on equity of 1.83% and a negative net margin of 5.94%. On average, analysts predict that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Large investors have recently modified their holdings of the business. Shay Capital LLC acquired a new stake in shares of Evolent Health during the third quarter worth about $254,000. Two Sigma Investments LP boosted its holdings in shares of Evolent Health by 133.8% in the 3rd quarter. Two Sigma Investments LP now owns 851,138 shares of the technology company’s stock valued at $7,201,000 after buying an additional 487,026 shares in the last quarter. Concentric Capital Strategies LP acquired a new stake in shares of Evolent Health during the third quarter worth about $376,000. Squarepoint Ops LLC purchased a new stake in Evolent Health in the third quarter valued at approximately $1,672,000. Finally, Glenmede Investment Management LP raised its position in Evolent Health by 14.9% in the 3rd quarter. Glenmede Investment Management LP now owns 1,238,477 shares of the technology company’s stock valued at $10,478,000 after purchasing an additional 160,164 shares during the last quarter.

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.