Evolent Health (NYSE:EVH) Price Target Raised to $5.00

Key Points

• Needham & Company LLC raised its price target on Evolent Health from $4.00 to $5.00 and kept a "buy" rating, implying about a 14.6% upside from the prior close.
• Analyst consensus is a Moderate Buy (13 Buys, 3 Holds, 1 Sell) with an average target of $6.12.
• Shares jumped ~14% to $4.37 after earnings that beat EPS estimates (-$0.02 vs. -$0.05) but missed revenue; the company remains unprofitable (net margin -28.49%) with a market cap of roughly $487 million.

Evolent Health (NYSE:EVH - Get Free Report) had its target price lifted by analysts at Needham & Company LLC from $4.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price would indicate a potential upside of 14.55% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Citigroup decreased their price target on Evolent Health from $6.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. TD Cowen reissued a "buy" rating on shares of Evolent Health in a research note on Monday, March 2nd. KeyCorp cut Evolent Health from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, February 25th. Wall Street Zen raised Evolent Health from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, BTIG Research decreased their target price on Evolent Health from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.12.

Evolent Health Trading Up 14.0%

Evolent Health stock traded up $0.54 during trading hours on Thursday, hitting $4.37. The stock had a trading volume of 5,286,702 shares, compared to its average volume of 3,071,081. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.34. The stock has a market cap of $487.30 million, a price-to-earnings ratio of -0.84 and a beta of 0.83. Evolent Health has a one year low of $2.10 and a one year high of $12.06. The business's 50 day simple moving average is $2.90 and its 200-day simple moving average is $3.82.

Evolent Health (NYSE:EVH - Get Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $496.25 million during the quarter, compared to the consensus estimate of $534.00 million. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.The business's quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company earned $0.06 earnings per share. On average, equities analysts predict that Evolent Health will post -0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Evolent Health in the fourth quarter worth approximately $3,927,000. Eventide Asset Management LLC boosted its holdings in Evolent Health by 54.0% in the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company's stock worth $53,246,000 after acquiring an additional 2,205,659 shares in the last quarter. Tudor Investment Corp ET AL boosted its holdings in Evolent Health by 174.4% in the third quarter. Tudor Investment Corp ET AL now owns 689,262 shares of the technology company's stock worth $5,831,000 after acquiring an additional 438,095 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Evolent Health by 2.8% in the fourth quarter. Congress Asset Management Co. now owns 193,657 shares of the technology company's stock worth $775,000 after acquiring an additional 5,300 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Evolent Health by 0.4% in the third quarter. Vanguard Group Inc. now owns 10,966,830 shares of the technology company's stock valued at $92,779,000 after purchasing an additional 45,299 shares in the last quarter.

About Evolent Health

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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