Evolent Health’s (EVH) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Evolent Health (NYSE:EVH) in a research note published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $15.00 target price on the technology company’s stock.

A number of other research analysts have also commented on EVH. Canaccord Genuity Group lowered their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price target on Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Stephens reduced their price objective on shares of 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. Truist Financial lowered their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Finally, Oppenheimer dropped their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health presently has an average rating of “Buy” and an average price target of $17.79.

Evolent Health Stock Performance

EVH stock opened at $10.44 on Friday. The firm has a 50 day moving average of $10.75 and a two-hundred day moving average of $18.82. Evolent Health has a 12 month low of $9.45 and a 12 month high of $35.00. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -12.73 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 issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, equities analysts anticipate that Evolent Health will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Institutional investors have recently bought and sold shares of the business. State of Wyoming bought a new position in shares of Evolent Health during the 4th quarter worth about $95,000. Sea Cliff Partners Management LP acquired a new position in Evolent Health in the fourth quarter worth about $9,338,000. Silvercrest Asset Management Group LLC lifted its stake in Evolent Health by 37.3% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company’s stock worth $15,424,000 after purchasing an additional 372,793 shares during the period. Raiffeisen Bank International AG acquired a new stake in Evolent Health during the fourth quarter valued at approximately $988,000. Finally, Redwood Investment Management LLC bought a new stake in shares of Evolent Health in the 4th quarter valued at approximately $468,000.

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.