Citigroup Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price reduced by investment analysts at Citigroup from $21.00 to $18.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 43.20% from the company’s previous close.

A number of other research firms have also weighed in on EVH. Oppenheimer lowered their price objective on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Barclays lowered their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Needham & Company LLC started coverage on shares of Evolent Health in a research note on Friday. They issued a “buy” rating and a $15.00 price objective for the company. Stephens lowered shares of Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. Finally, BTIG Research lowered their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Evolent Health presently has an average rating of “Buy” and an average price target of $23.92.

Evolent Health Trading Down 0.2 %

EVH stock opened at $12.57 on Friday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -13.81 and a beta of 1.45. Evolent Health has a twelve month low of $10.53 and a twelve month high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $12.91 and its two-hundred day simple moving average is $21.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EVH. Wellington Management Group LLP lifted its position in shares of Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after buying an additional 1,426,747 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in Evolent Health by 1,948.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after purchasing an additional 1,422,385 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Evolent Health by 35.2% in the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares during the last quarter. First Light Asset Management LLC boosted its position in shares of Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock valued at $27,634,000 after acquiring an additional 1,157,124 shares during the last quarter. Finally, Bellevue Group AG boosted its position in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after acquiring an additional 1,000,215 shares during 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.