Evolent Health, Inc (NYSE:EVH) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Evolent Health, with 12 buy ratings, four holds and one sell among 17 firms. The average 12-month price target is $6.04, above the stock’s reported $4.45 opening price.
• Recent broker actions were generally positive: Needham, Citigroup and TD Cowen issued or maintained buy ratings, while price targets largely range from $5 to $6.
• Evolent reported adjusted quarterly EPS of $0.02, exceeding the expected loss of $0.01, while revenue rose 46.9% year over year to $484.5 million. However, the company remained unprofitable, with a negative net margin of 24.08%.

Evolent Health, Inc (NYSE:EVH - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $6.0357.

Several research firms have recently weighed in on EVH. Needham & Company LLC increased their price target on shares of Evolent Health from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Evolent Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. Citigroup upgraded Evolent Health from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $6.75 to $6.00 in a report on Monday, August 10th. TD Cowen increased their price objective on Evolent Health from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Canaccord Genuity Group cut their target price on Evolent Health from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, August 10th.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Durable Capital Partners LP acquired a new position in Evolent Health in the second quarter valued at about $72,326,000. Rubicon Founders LLC acquired a new stake in shares of Evolent Health during the third quarter valued at about $49,204,000. 8 Knots Management LLC acquired a new stake in shares of Evolent Health during the second quarter valued at about $32,802,000. Goldman Sachs Group Inc. raised its stake in shares of Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company's stock valued at $26,861,000 after acquiring an additional 1,754,520 shares during the period. Finally, Maverick Capital Ltd. raised its stake in shares of Evolent Health by 1.3% in the 1st quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company's stock valued at $5,866,000 after acquiring an additional 32,833 shares during the period.

Evolent Health Stock Down 4.9%

Shares of EVH opened at $4.45 on Tuesday. Evolent Health has a 52-week low of $2.10 and a 52-week high of $10.08. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.52. The stock has a fifty day simple moving average of $4.77 and a two-hundred day simple moving average of $3.74. The company has a market capitalization of $503.12 million, a PE ratio of -0.97 and a beta of 0.80.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.03. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. The firm had revenue of $484.50 million during the quarter, compared to analyst estimates of $597.70 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. Evolent Health's quarterly revenue was up 46.9% on a year-over-year basis. As a group, equities analysts forecast that Evolent Health will post -0.16 EPS 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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