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

Shares of Evolent Health, Inc (NYSE:EVH - Get Free Report) have received a consensus rating of "Buy" from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $17.93.

A number of brokerages have weighed in on EVH. JMP Securities reiterated a "market outperform" rating and set a $13.00 target price on shares of Evolent Health in a research note on Friday, June 20th. UBS Group boosted their target price on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a research note on Tuesday, May 13th. Finally, Truist Financial boosted their target price on shares of Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday.

Evolent Health Stock Down 1.3%

NYSE EVH traded down $0.15 during mid-day trading on Monday, reaching $11.29. The stock had a trading volume of 2,019,970 shares, compared to its average volume of 2,502,903. Evolent Health has a 1 year low of $7.06 and a 1 year high of $33.63. The stock has a market cap of $1.32 billion, a PE ratio of -9.18 and a beta of 1.01. The company has a fifty day moving average price of $9.46 and a 200 day moving average price of $9.83. 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 announced its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share 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 4.54% and a positive return on equity of 3.64%. Evolent Health's quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, research analysts expect that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Evolent Health by 82.6% in the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company's stock worth $39,000 after buying an additional 1,577 shares during the period. Summit Creek Advisors LLC boosted its holdings in Evolent Health by 0.8% in the 4th quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock worth $2,274,000 after buying an additional 1,636 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health in the 4th quarter worth $26,000. Banque Cantonale Vaudoise bought a new position in Evolent Health in the 1st quarter worth $25,000. Finally, AlphaQuest LLC boosted its holdings in Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after buying an additional 3,031 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.