Oppenheimer Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price target reduced by investment analysts at Oppenheimer from $28.00 to $18.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price target would suggest a potential upside of 78.13% from the company’s previous close.

A number of other research firms have also recently commented on EVH. KeyCorp assumed coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. Citigroup decreased their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. JMP Securities reduced their target price on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a report on Friday, January 10th. 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. Finally, Royal Bank of Canada lowered their target price 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. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $18.54.

Evolent Health Stock Down 0.7 %

NYSE EVH opened at $10.11 on Friday. The stock’s 50-day moving average price is $11.45 and its 200-day moving average price is $20.39. The company has a market capitalization of $1.18 billion, a P/E ratio of -11.10 and a beta of 1.45. Evolent Health has a 52 week low of $9.74 and a 52 week high of $35.00. 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 announced its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.38). The firm had revenue of $621.40 million during 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 period last year, the company earned $0.19 earnings per share. On average, equities research analysts predict that Evolent Health will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Evolent Health by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after acquiring an additional 121,770 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Evolent Health during the second quarter valued at $61,000. Marshall Wace LLP bought a new position in shares of Evolent Health in the second quarter worth about $1,231,000. Point72 DIFC Ltd purchased a new position in Evolent Health in the 2nd quarter worth about $148,000. Finally, Squarepoint Ops LLC bought a new stake in Evolent Health during the 2nd quarter valued at about $439,000.

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.