JPMorgan Chase & Co. Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $15.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 24.58% from the company’s previous close.

Several other equities research analysts have also weighed in on EVH. KeyCorp assumed coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. Needham & Company LLC started coverage on shares of Evolent Health in a report on Friday, January 10th. They set a “buy” rating and a $15.00 price objective for the company. Truist Financial reduced their target price on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Canaccord Genuity Group dropped 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. Finally, UBS Group reduced their price objective 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. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.38.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $10.44 on Tuesday. The firm has a market cap of $1.22 billion, a P/E ratio of -11.47 and a beta of 1.45. The firm’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $20.19. Evolent Health has a twelve month low of $9.74 and a twelve month high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Evolent Health (NYSE:EVH) last released its quarterly earnings data 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). The company had revenue of $621.40 million during the quarter, compared to the consensus estimate of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, research analysts expect that Evolent Health will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several institutional investors have recently modified their holdings of the business. Covestor Ltd lifted its holdings 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 buying an additional 826 shares during the period. GAMMA Investing LLC boosted its position in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the last quarter. Quarry LP acquired a new position in Evolent Health in the second quarter valued at about $32,000. R Squared Ltd bought a new position in Evolent Health during the fourth quarter worth about $31,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of Evolent Health by 2,471.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,507 shares of the technology company’s stock worth $184,000 after buying an additional 6,254 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.