Evolent Health (NYSE:EVH) Given New $9.50 Price Target at Citigroup

Evolent Health (NYSE:EVH) had its price objective decreased by Citigroup from $11.50 to $9.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price points to a potential upside of 130.30% from the company’s previous close.

Several other analysts also recently weighed in on EVH. Stephens upgraded Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Thursday, November 13th. BMO Capital Markets initiated coverage on Evolent Health in a research report on Thursday, November 13th. They set an “outperform” rating and a $7.00 price target on the stock. BTIG Research decreased their price objective on Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 7th. Piper Sandler raised their target price on Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Finally, Zacks Research upgraded Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Fourteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.89.

Evolent Health Stock Performance

NYSE:EVH traded up $0.44 during trading hours on Friday, hitting $4.13. 4,773,584 shares of the company were exchanged, compared to its average volume of 2,919,188. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. Evolent Health has a 52-week low of $3.49 and a 52-week high of $13.61. The stock has a market capitalization of $460.35 million, a price-to-earnings ratio of -2.56 and a beta of 0.58. The company’s 50 day moving average price is $7.20 and its 200-day moving average price is $8.71.

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

Insiders Place Their Bets

In other Evolent Health news, Director Brendan B. Springstubb purchased 10,000 shares of the stock in a transaction on Tuesday, November 18th. The shares were bought at an average price of $3.82 per share, for a total transaction of $38,200.00. Following the completion of the transaction, the director owned 58,821 shares of the company’s stock, valued at $224,696.22. This trade represents a 20.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.40% of the company’s stock.

Institutional Trading of Evolent Health

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new position in shares of Evolent Health during the 1st quarter valued at approximately $25,000. 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 worth $29,000 after acquiring an additional 1,194 shares during the period. Parallel Advisors LLC lifted its holdings in Evolent Health by 82.6% during the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,577 shares in the last quarter. Strs Ohio acquired a new stake in shares of Evolent Health in the first quarter valued at about $47,000. Finally, US Bancorp DE increased its stake in shares of Evolent Health by 291.0% during the first 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 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.