Canaccord Genuity Group Cuts Evolent Health (NYSE:EVH) Price Target to $16.00

Evolent Health (NYSE:EVH) had its target price cut by Canaccord Genuity Group from $23.00 to $16.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on EVH. Needham & Company LLC initiated coverage on Evolent Health in a research report on Friday, January 10th. They issued a “buy” rating and a $15.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Truist Financial lowered their price objective on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. Stephens reduced their target price on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, JMP Securities decreased their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.54.

Evolent Health Stock Down 0.7 %

Shares of NYSE EVH opened at $10.11 on Thursday. The business has a 50-day moving average price of $11.45 and a 200 day moving average price of $20.39. Evolent Health has a 52-week low of $9.74 and a 52-week high of $35.00. The stock has a market cap of $1.18 billion, a PE ratio of -11.10 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). The firm had revenue of $621.40 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $0.19 EPS. Equities research analysts forecast that Evolent Health will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently modified their holdings of the stock. 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 period. GAMMA Investing LLC raised its stake in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares in the last quarter. Quarry LP bought a new stake in shares of Evolent Health in the 2nd quarter valued at approximately $32,000. Creative Planning increased its position in shares of Evolent Health by 12.2% during the 2nd quarter. Creative Planning now owns 18,091 shares of the technology company’s stock worth $346,000 after purchasing an additional 1,973 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Evolent Health during the 4th quarter valued at $31,000.

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.