Stephens Lowers Evolent Health (NYSE:EVH) Price Target to $12.00

Evolent Health (NYSE:EVH) had its price objective dropped by investment analysts at Stephens from $16.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Stephens’ price target would suggest a potential upside of 20.06% from the company’s previous close.

Other research analysts have also issued reports about the stock. Truist Financial cut their target price on shares of Evolent Health from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. UBS Group cut their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada decreased their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. JMP Securities cut their price target on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a report on Friday, January 10th. Finally, Citigroup decreased their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and an average price target of $21.23.

Evolent Health Stock Performance

Shares of Evolent Health stock opened at $10.00 on Tuesday. The business has a 50-day moving average price of $11.55 and a two-hundred day moving average price of $20.51. Evolent Health has a 1-year low of $9.74 and a 1-year high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.17 billion, a P/E ratio of -10.98 and a beta of 1.45.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.38). The business had revenue of $621.40 million for the quarter, compared to analyst estimates of $625.58 million. Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. During the same period in the prior year, the business earned $0.19 EPS. As a group, analysts anticipate that Evolent Health will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after buying an additional 826 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Evolent Health by 5,365.5% during the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares during the last quarter. Quarry LP bought a new stake in Evolent Health during the second quarter worth $32,000. Canada Pension Plan Investment Board purchased a new position in Evolent Health in the second quarter worth $61,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in Evolent Health by 2,471.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,507 shares of the technology company’s stock valued at $184,000 after purchasing an additional 6,254 shares during the period.

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.