Evolent Health, Inc (NYSE:EVH) Receives Consensus Rating of "Buy" from Brokerages

Shares of Evolent Health, Inc (NYSE:EVH - Get Free Report) have been assigned an average recommendation of "Buy" from the fourteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research 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 target price among brokerages that have covered the stock in the last year is $17.79.

Several equities analysts have recently issued reports on EVH shares. Truist Financial decreased their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a research report on Tuesday, May 13th. UBS Group lifted their price objective on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, JMP Securities reiterated a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a report on Friday, June 20th.

Evolent Health Stock Down 0.6%

Shares of EVH stock opened at $11.16 on Monday. The stock has a market cap of $1.31 billion, a P/E ratio of -9.07 and a beta of 1.01. Evolent Health has a one year low of $7.06 and a one year high of $33.63. The stock has a fifty day moving average price of $9.39 and a 200 day moving average price of $9.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $460.15 million. Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The firm's revenue was down 24.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. Analysts predict that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Trading of Evolent Health

Institutional investors and hedge funds have recently modified their holdings of the business. Cadian Capital Management LP bought a new position in shares of Evolent Health during the fourth quarter worth about $58,781,000. Goldman Sachs Group Inc. raised its position in shares of 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 worth $26,861,000 after acquiring an additional 1,754,520 shares during the last quarter. Eventide Asset Management LLC increased its holdings 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 worth $57,555,000 after purchasing an additional 1,524,885 shares in the last quarter. Engaged Capital LLC increased its holdings in Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock worth $60,804,000 after purchasing an additional 1,415,300 shares in the last quarter. Finally, Boston Partners increased its holdings in Evolent Health by 92.0% in the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after purchasing an additional 1,171,304 shares in the last quarter.

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.

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