Analysts Set Evolent Health, Inc (NYSE:EVH) Target Price at $17.79

Shares of Evolent Health, Inc (NYSE:EVH) have been assigned a consensus rating of “Buy” from the fourteen analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.79.

Several research analysts have recently issued reports on EVH shares. JMP Securities reissued a “market outperform” rating and issued a $13.00 target price on shares of Evolent Health in a research report on Friday, June 20th. JPMorgan Chase & Co. decreased their price objective on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Evolent Health in a research report on Tuesday, May 13th. Truist Financial reduced their target price on shares of Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group lifted their price target on shares of Evolent Health from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 9th.

Evolent Health Stock Up 1.2%

Shares of Evolent Health stock opened at $10.75 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69. Evolent Health has a 12-month low of $7.06 and a 12-month high of $33.63. The company has a market cap of $1.26 billion, a P/E ratio of -8.74 and a beta of 0.87. The company’s fifty day simple moving average is $8.88 and its two-hundred day simple moving average is $9.80.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The company had revenue of $483.65 million for the quarter, compared to analysts’ expectations of $460.15 million. During the same quarter in the prior year, the firm earned $0.34 EPS. Evolent Health’s quarterly revenue was down 24.4% compared to the same quarter last year. Research analysts anticipate that Evolent Health will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Evolent Health by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock worth $125,676,000 after buying an additional 259,781 shares in the last quarter. Eventide Asset Management LLC boosted its holdings in shares of Evolent Health by 33.5% during the 1st quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company’s stock valued at $57,555,000 after acquiring an additional 1,524,885 shares during the last quarter. Engaged Capital LLC grew its stake in shares of Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock worth $60,804,000 after acquiring an additional 1,415,300 shares during the period. Cadian Capital Management LP purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $58,781,000. Finally, Granahan Investment Management LLC raised its holdings in shares of Evolent Health by 5.2% during the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company’s stock valued at $41,329,000 after purchasing an additional 181,893 shares during 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.