Evolent Health (NYSE:EVH) Receives “Buy” Rating from Canaccord Genuity Group

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $16.00 price target on the technology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 64.25% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. Truist Financial upped their target price on shares of Evolent Health from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Piper Sandler lifted their target price on Evolent Health from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, August 28th. JMP Securities reissued a “market outperform” rating and set a $13.00 price target on shares of Evolent Health in a report on Friday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Evolent Health in a research note on Tuesday, May 13th. Finally, BTIG Research reiterated a “buy” rating and set a $20.00 price target on shares of Evolent Health in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.43.

Evolent Health Price Performance

Shares of EVH opened at $9.74 on Tuesday. Evolent Health has a 12 month low of $7.06 and a 12 month high of $31.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day moving average price of $10.01 and a 200 day moving average price of $9.51. The company has a market cap of $1.14 billion, a P/E ratio of -6.09 and a beta of 0.73.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 7th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.20). The company had revenue of $444.33 million during the quarter, compared to the consensus estimate of $459.43 million. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The business’s quarterly revenue was down 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. Evolent Health has set its Q3 2025 guidance at EPS. On average, research analysts forecast that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Trading of Evolent Health

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its position in Evolent Health by 88.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after buying an additional 1,194 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Evolent Health by 82.6% during the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,577 shares during the period. Police & Firemen s Retirement System of New Jersey grew its position in Evolent Health by 10.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 27,242 shares of the technology company’s stock valued at $307,000 after purchasing an additional 2,666 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Evolent Health in the 1st quarter worth approximately $25,000. Finally, Cetera Trust Company N.A lifted its position in Evolent Health by 47.3% in the 2nd quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock worth $110,000 after buying an additional 3,125 shares in 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.