Evolent Health (NYSE:EVH) Earns Buy Rating from Needham & Company LLC

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $15.00 price target on the technology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 43.66% from the company’s previous close.

A number of other equities analysts have also commented on EVH. BTIG Research cut their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Canaccord Genuity Group cut their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a report on Friday, February 14th. Oppenheimer lowered their price objective on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Stephens lowered their price objective 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. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.79.

Evolent Health Price Performance

Shares of NYSE EVH opened at $10.44 on Friday. The stock has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $18.83. Evolent Health has a 1-year low of $9.45 and a 1-year high of $35.00. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -12.73 and a beta of 1.45. 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 (NYSE:EVH) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The company had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Analysts anticipate that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently added to or reduced their stakes in EVH. Pilgrim Partners Asia Pte Ltd purchased a new stake in Evolent Health during the fourth quarter valued at about $26,000. R Squared Ltd purchased a new stake in Evolent Health during the fourth quarter valued at about $31,000. AlphaQuest LLC increased its holdings in shares of Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after buying an additional 3,031 shares during the period. Covestor Ltd increased its holdings in shares of 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 buying an additional 826 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after buying an additional 2,358 shares during the period.

Evolent Health Company Profile

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.