Evolent Health, Inc (NYSE:EVH) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Evolent Health, Inc. has received a consensus recommendation of "Buy" from fourteen research firms, with twelve analysts recommending a buy and one a strong buy.
• The company's stock price target averages approximately $17.93 among brokerages, while current trading is around $9.70.
• Evolent Health reported a quarterly EPS of $0.06, missing estimates, while revenue for the quarter was $483.65 million, exceeding analyst expectations.

Shares of Evolent Health, Inc (NYSE:EVH - Get Free Report) have been given a consensus recommendation of "Buy" by the fourteen research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $17.9286.

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a report on Tuesday, May 13th. UBS Group lifted their price target on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and issued a $13.00 price target on shares of Evolent Health in a report on Friday, June 20th. Finally, Truist Financial increased their price objective on shares of Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, July 17th.

Evolent Health Stock Performance

Evolent Health stock opened at $9.70 on Friday. Evolent Health has a 12-month low of $7.06 and a 12-month high of $33.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.89 and a beta of 0.82. The firm's fifty day moving average price is $9.90 and its 200 day moving average price is $9.65.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $483.65 million during the quarter, compared to analyst estimates of $460.15 million. Evolent Health had a positive return on equity of 3.64% and a negative net margin of 4.54%. The company's revenue was down 24.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 EPS. On average, research analysts forecast that Evolent Health will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC lifted its stake in Evolent Health by 33.5% in the first quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company's stock valued at $57,555,000 after buying an additional 1,524,885 shares during the last quarter. Engaged Capital LLC lifted its position in Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after purchasing an additional 1,415,300 shares during the last quarter. Cadian Capital Management LP acquired a new position in Evolent Health during the 4th quarter valued at about $58,781,000. Granahan Investment Management LLC grew its holdings in Evolent Health by 5.2% in the 4th quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock worth $41,329,000 after buying an additional 181,893 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Evolent Health by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company's stock worth $32,595,000 after purchasing an additional 466,225 shares in the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.