Evolent Health, Inc. (NYSE:EVH) Receives $17.79 Average Price Target from Analysts

Evolent Health, Inc. (NYSE:EVH - Get Free Report) has been given an average recommendation of "Buy" by the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.79.

A number of brokerages recently commented on EVH. Truist Financial dropped their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a research report on Tuesday, May 13th. Piper Sandler reiterated an "overweight" rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. UBS Group upped their target price on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, JMP Securities restated a "market outperform" rating and issued a $13.00 price objective on shares of Evolent Health in a research report on Monday, April 28th.

Evolent Health Trading Up 6.7%

NYSE EVH traded up $0.48 on Friday, hitting $7.69. 1,727,739 shares of the stock were exchanged, compared to its average volume of 2,419,656. The firm has a market capitalization of $902.81 million, a P/E ratio of -9.38 and a beta of 1.04. Evolent Health has a 52-week low of $7.06 and a 52-week high of $33.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average price of $9.37 and a two-hundred day moving average price of $10.36.

Evolent Health (NYSE:EVH - Get Free Report) last issued its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The company had revenue of $483.65 million for the quarter, compared to analysts' expectations of $460.15 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm's revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. Research analysts forecast that Evolent Health will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, President Daniel Joseph Mccarthy acquired 11,040 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, with a total value of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. The trade was a 2.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Diane Holder bought 2,735 shares of the stock in a transaction on Thursday, March 6th. The stock was purchased at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the acquisition, the director now directly owns 70,584 shares of the company's stock, valued at $658,548.72. The trade was a 4.03% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 74,000 shares of company stock worth $666,315. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Evolent Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new position in shares of Evolent Health during the 1st quarter worth $25,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health during the 4th quarter worth $26,000. R Squared Ltd purchased a new position in shares of Evolent Health during the 4th quarter worth $31,000. AlphaQuest LLC lifted its stake in shares of Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after purchasing an additional 3,031 shares during the period. Finally, US Bancorp DE lifted its stake in shares of Evolent Health by 291.0% during the 1st quarter. US Bancorp DE now owns 5,153 shares of the technology company's stock worth $49,000 after purchasing an additional 3,835 shares during the period.

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.