Needham & Company LLC Reiterates “Buy” Rating for Evolent Health (NYSE:EVH)

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 price target on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 50.66% from the company’s current price.

A number of other research analysts also recently issued reports on EVH. Barclays decreased their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. BTIG Research decreased their target price on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Canaccord Genuity Group decreased their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Stephens decreased their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Evolent Health presently has an average rating of “Buy” and an average target price of $18.38.

Evolent Health Trading Up 3.7 %

NYSE EVH opened at $9.96 on Wednesday. The company has a market capitalization of $1.16 billion, a PE ratio of -10.94 and a beta of 1.45. The company has a fifty day moving average of $10.88 and a 200 day moving average of $19.37. Evolent Health has a 1 year low of $9.45 and a 1 year high of $35.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Institutional Trading of Evolent Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP purchased a new stake in shares of Evolent Health during the third quarter worth about $7,070,000. Foundry Partners LLC purchased a new stake in shares of Evolent Health during the third quarter worth about $10,042,000. Salem Investment Counselors Inc. increased its stake in shares of Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after purchasing an additional 121,369 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after purchasing an additional 246,400 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 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.