Evolent Health, Inc (NYSE:EVH) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Evolent Health has an average analyst rating of “Moderate Buy” from 17 covering analysts, with 11 buy ratings, 4 holds, and 2 sells. The average 12-month price target is $6.25.
• The stock was down 16.6% and opened at $4.64 on Friday, while trading well below its 52-week high of $10.35. The company’s market cap is about $522.47 million.
• In its latest quarterly results, Evolent Health beat EPS expectations with a loss of $0.02 per share versus the expected loss of $0.05, but revenue missed estimates at $496.25 million versus $534 million expected.

Evolent Health, Inc (NYSE:EVH - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seventeen analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.25.

A number of research firms have weighed in on EVH. Citigroup reissued a "sell" rating and issued a $6.75 target price (up from $5.50) on shares of Evolent Health in a report on Thursday. Weiss Ratings upgraded Evolent Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 8th. Truist Financial lowered shares of Evolent Health from a "buy" rating to a "hold" rating and set a $7.00 price target for the company. in a research report on Tuesday, June 30th. Needham & Company LLC increased their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group raised their price objective on shares of Evolent Health from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Tuesday.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Durable Capital Partners LP bought a new position in Evolent Health in the 2nd quarter worth $72,326,000. Rubicon Founders LLC purchased a new position in Evolent Health during the third quarter valued at $49,204,000. 8 Knots Management LLC bought a new stake in Evolent Health during the second quarter valued at about $32,802,000. Goldman Sachs Group Inc. grew its holdings in Evolent Health by 162.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company's stock valued at $26,861,000 after purchasing an additional 1,754,520 shares during the period. Finally, Tejara Capital Ltd purchased a new stake in Evolent Health in the fourth quarter worth about $5,326,000.

Evolent Health Trading Down 16.6%

NYSE:EVH opened at $4.64 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46. Evolent Health has a 12 month low of $2.10 and a 12 month high of $10.35. The company has a market cap of $522.47 million, a PE ratio of -0.98 and a beta of 0.76. The company has a 50 day simple moving average of $4.84 and a two-hundred day simple moving average of $3.76.

Evolent Health (NYSE:EVH - Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.03. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The business had revenue of $496.25 million during the quarter, compared to analyst estimates of $534.00 million. During the same period in the previous year, the business earned $0.06 EPS. The company's quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Evolent Health will post -0.16 earnings per share for the current year.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company's core offerings include care management solutions, population health analytics and clinical advisory services.

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