Evolent Health, Inc. (NYSE:EVH) Receives $42.00 Consensus Price Target from Brokerages

Shares of Evolent Health, Inc. (NYSE:EVH) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $42.00.

EVH has been the subject of a number of analyst reports. Citigroup initiated coverage on Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. JMP Securities decreased their target price on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. Canaccord Genuity Group decreased their target price on Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Oppenheimer began coverage on Evolent Health in a research report on Friday, March 1st. They set an “outperform” rating and a $45.00 target price for the company.

Evolent Health Price Performance

Shares of EVH opened at $23.01 on Friday. The stock has a market cap of $2.67 billion, a P/E ratio of -18.41 and a beta of 1.44. The business’s fifty day moving average is $26.38 and its 200 day moving average is $29.62. Evolent Health has a 12-month low of $20.54 and a 12-month high of $35.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $639.65 million during the quarter, compared to analyst estimates of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. Sell-side analysts anticipate that Evolent Health will post 0.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its stake in Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after purchasing an additional 350 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Evolent Health by 0.5% during the 3rd quarter. New York State Common Retirement Fund now owns 94,908 shares of the technology company’s stock valued at $2,584,000 after buying an additional 506 shares in the last quarter. HMS Capital Management LLC raised its holdings in shares of Evolent Health by 7.8% during the 1st quarter. HMS Capital Management LLC now owns 7,419 shares of the technology company’s stock valued at $243,000 after buying an additional 538 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Evolent Health by 2.8% during the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after buying an additional 550 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of Evolent Health by 1.2% during the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after buying an additional 640 shares in the last quarter.

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.