Royal Bank Of Canada Cuts Evolent Health (NYSE:EVH) Price Target to $3.00

Evolent Health (NYSE:EVH) had its price target decreased by Royal Bank Of Canada from $5.00 to $3.00 in a report released on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the technology company’s stock.

EVH has been the subject of several other reports. Citizens Jmp decreased their price target on Evolent Health from $11.00 to $10.00 and set a “market outperform” rating for the company in a report on Tuesday, January 6th. Stephens upgraded shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 target price for the company in a research note on Thursday, November 13th. Zacks Research upgraded shares of Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. lowered their price objective on Evolent Health from $13.00 to $7.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Finally, KeyCorp downgraded Evolent Health from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. Twelve research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.50.

Evolent Health Price Performance

Shares of EVH opened at $3.26 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.33 and a current ratio of 1.33. Evolent Health has a fifty-two week low of $2.50 and a fifty-two week high of $12.06. The firm has a 50-day simple moving average of $3.49 and a 200-day simple moving average of $5.80. The company has a market capitalization of $363.26 million, a price-to-earnings ratio of -0.63 and a beta of 0.27.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, February 24th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Evolent Health had a positive return on equity of 1.30% and a negative net margin of 28.49%.The firm had revenue of $468.72 million during the quarter, compared to the consensus estimate of $468.48 million. During the same period in the prior year, the business earned ($0.02) EPS. The firm’s revenue was down 27.5% compared to the same quarter last year. On average, equities research analysts anticipate that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVH. Vanguard Group Inc. lifted its position in shares of Evolent Health by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,966,830 shares of the technology company’s stock valued at $92,779,000 after acquiring an additional 45,299 shares during the period. Durable Capital Partners LP purchased a new position in Evolent Health in the 2nd quarter valued at approximately $72,326,000. Eventide Asset Management LLC raised its holdings in Evolent Health by 54.0% during the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after purchasing an additional 2,205,659 shares during the last quarter. Engaged Capital LLC boosted its position in Evolent Health by 13.0% during the second quarter. Engaged Capital LLC now owns 5,854,468 shares of the technology company’s stock worth $65,921,000 after purchasing an additional 675,000 shares in the last quarter. Finally, Rubicon Founders LLC purchased a new stake in Evolent Health during the third quarter worth $49,204,000.

Trending Headlines about Evolent Health

Here are the key news stories impacting Evolent Health this week:

• Positive Sentiment: BTIG set a new $8.00 price target for EVH, signaling confidence that the stock has upside from current levels. Evolent Health (NYSE:EVH) Given New $8.00 Price Target at BTIG Research
• Positive Sentiment: UBS lowered its target to $5.00 but kept a “buy” rating, implying upside (reported as ~54% above the then-current price). UBS lowers price target to $5.00
• Positive Sentiment: Citigroup cut its target to $4.00 but maintained a “buy” rating, which suggests analysts still see recovery potential despite near-term weakness. Citigroup lowers price target to $4.00
• Positive Sentiment: Seeking Alpha published a bullish-themed piece arguing EVH is “cheap, levered, but ready to rebound,” which can attract value-oriented buyers. Evolent Health: Cheap, Levered, But Ready To Rebound
• Neutral Sentiment: Evolent announced executive participation in upcoming investor conferences with live webcasts — useful for transparency but unlikely to move the stock materially on its own. Evolent to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Yahoo Finance ran a roundup noting a sharp intraday move earlier; such coverage increases attention/volatility but doesn’t change fundamentals. Evolent Health (EVH) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Royal Bank of Canada set a $3.00 target — a lower valuation point that may anchor some expectations but was published alongside other divergent targets. Evolent Health (NYSE:EVH) Given New $3.00 Price Target at Royal Bank Of Canada
• Neutral Sentiment: Needham published a $4.00 price target; another mid-range projection adding to the wide spread of analyst views. Evolent Health (NYSE:EVH) Given New $4.00 Price Target at Needham & Company LLC
• Negative Sentiment: KeyCorp lowered EVH to “Sector Weight” (a downgrade), which is a clear negative signal and likely contributed to selling pressure. Evolent Health (NYSE:EVH) Rating Lowered to “Sector Weight” at KeyCorp

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.