Evolent Health’s (EVH) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Evolent Health (NYSE:EVH) in a report released on Friday morning,Benzinga reports. JMP Securities currently has a $12.00 target price on the technology company’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada cut their price objective on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Stephens dropped their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. dropped their price target on Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Truist Financial dropped their price target on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.92.

Evolent Health Price Performance

Shares of EVH stock opened at $10.07 on Friday. The firm has a market cap of $1.17 billion, a P/E ratio of -11.06 and a beta of 1.45. Evolent Health has a fifty-two week low of $9.45 and a fifty-two week high of $35.00. The business’s 50 day moving average price is $10.86 and its 200-day moving average price is $19.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP bought a new stake in Evolent Health in the third quarter worth $7,070,000. Foundry Partners LLC purchased a new position in shares of Evolent Health in the third quarter worth $10,042,000. Salem Investment Counselors Inc. raised its stake in shares of Evolent Health by 53.0% in 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 during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Evolent Health by 140.0% in 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 during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Evolent Health by 7.0% in 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 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.