Evolent Health, Inc (NYSE:EVH) Receives $6.25 Consensus Target Price from Brokerages

Shares of Evolent Health, Inc (NYSE:EVH) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $6.25.

A number of analysts have issued reports on EVH shares. Canaccord Genuity Group lifted their target price on shares of Evolent Health from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Citigroup restated a “sell” rating and set a $6.75 price target (up from $5.50) on shares of Evolent Health in a research note on Thursday. Weiss Ratings downgraded shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Truist Financial lowered shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research note on Tuesday, June 30th. Finally, Needham & Company LLC upped their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th.

Evolent Health Stock Down 0.8%

Shares of Evolent Health stock opened at $4.19 on Friday. The firm has a market cap of $470.84 million, a price-to-earnings ratio of -0.88 and a beta of 0.76. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.32 and a quick ratio of 1.32. Evolent Health has a 52-week low of $2.10 and a 52-week high of $10.30. The stock has a 50-day simple moving average of $4.85 and a 200-day simple moving average of $3.76.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The business had revenue of $496.25 million during the quarter, compared to analysts’ expectations of $534.00 million. During the same quarter in the previous year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Evolent Health will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Evolent Health

A number of institutional investors and hedge funds have recently made changes to their positions in EVH. Brighton Jones LLC bought a new stake in shares of Evolent Health during the 4th quarter worth about $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Evolent Health by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after acquiring an additional 3,572 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after acquiring an additional 1,754,520 shares in the last quarter. Caxton Associates LLP acquired a new stake in Evolent Health in the 1st quarter worth approximately $252,000. Finally, Strs Ohio acquired a new stake in Evolent Health in the 1st quarter worth approximately $47,000.

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.