Stephens Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target reduced by equities researchers at Stephens from $16.00 to $12.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Stephens’ target price would suggest a potential upside of 20.06% from the stock’s current price.

Several other analysts have also issued reports on the stock. JMP Securities dropped their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada dropped their target price 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. UBS Group reduced their price target on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Needham & Company LLC assumed coverage on Evolent Health in a research note on Friday, January 10th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, BTIG Research cut their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $21.23.

Evolent Health Price Performance

Evolent Health stock opened at $10.00 on Tuesday. The business’s 50 day simple moving average is $11.55 and its 200 day simple moving average is $20.51. Evolent Health has a 12 month low of $9.74 and a 12 month high of $35.00. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -10.98 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, November 7th. The technology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The firm had revenue of $621.40 million for the quarter, compared to the consensus estimate of $625.58 million. During the same quarter in the previous year, the company posted $0.19 EPS. Sell-side analysts forecast that Evolent Health will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Evolent Health during the 2nd quarter valued at $32,000. Covestor Ltd increased 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 valued at $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC raised its position in Evolent Health by 5,365.5% during 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. Canada Pension Plan Investment Board bought a new stake in Evolent Health during the second quarter worth about $61,000. Finally, KBC Group NV boosted its holdings 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 worth $76,000 after purchasing an additional 3,739 shares in 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.