Analysts Set Expectations for Evolent Health FY2024 Earnings

Evolent Health, Inc. (NYSE:EVH) – Analysts at William Blair dropped their FY2024 earnings estimates for Evolent Health in a research report issued on Monday, January 27th. William Blair analyst R. Daniels now anticipates that the technology company will post earnings per share of $0.21 for the year, down from their previous estimate of $0.23. The consensus estimate for Evolent Health’s current full-year earnings is $0.26 per share. William Blair also issued estimates for Evolent Health’s FY2025 earnings at $0.01 EPS.

Other equities analysts have also issued reports about the stock. Truist Financial decreased their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Royal Bank of Canada lowered their price objective 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. Stephens reduced their target price 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. UBS Group decreased their price target on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Citigroup cut their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Evolent Health presently has an average rating of “Buy” and a consensus price target of $18.38.

Evolent Health Trading Up 1.5 %

Shares of EVH stock opened at $10.57 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a twelve month low of $9.74 and a twelve month high of $35.00. The company’s 50-day moving average price is $11.34 and its 200-day moving average price is $20.13. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -11.61 and a beta of 1.45.

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 company 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 business posted $0.19 EPS.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently added to or reduced their stakes in EVH. R Squared Ltd purchased a new position in shares of Evolent Health in the 4th quarter valued at about $31,000. Quarry LP acquired a new stake in Evolent Health in the second quarter valued at approximately $32,000. Covestor Ltd lifted its stake in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC grew its holdings in Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Evolent Health by 124.6% in the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,739 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.