Evolent Health’s (EVH) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Evolent Health (NYSE:EVH) in a report released on Friday,Benzinga reports. Piper Sandler currently has a $16.00 price target on the technology company’s stock, down from their prior price target of $17.00.

Several other analysts also recently weighed in on EVH. Stephens lowered their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. reduced their price objective on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada reduced their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, January 14th. Canaccord Genuity Group reduced their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Barclays reduced their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Evolent Health has a consensus rating of “Buy” and an average target price of $17.79.

Evolent Health Stock Down 2.5 %

Shares of NYSE:EVH opened at $10.44 on Friday. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -11.47 and a beta of 1.45. The firm’s 50-day simple moving average is $10.75 and its 200-day simple moving average is $18.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a fifty-two week low of $9.45 and a fifty-two week high of $35.00.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. As a group, equities research analysts predict that Evolent Health will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Evolent Health during the fourth quarter worth about $95,000. Sea Cliff Partners Management LP acquired a new position in Evolent Health during the fourth quarter worth about $9,338,000. Silvercrest Asset Management Group LLC raised its position in shares of Evolent Health by 37.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company’s stock valued at $15,424,000 after buying an additional 372,793 shares during the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $988,000. Finally, Redwood Investment Management LLC acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $468,000.

About Evolent Health

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.