Evolent Health (NYSE:EVH) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Evolent Health experienced unusually-high trading volume of approximately 5.58 million shares, marking a 116% increase from the previous session.
• Multiple analysts have given Evolent Health a consensus Buy rating with target prices ranging from $13.00 to $17.93.
• The company's recent earnings report showed a quarterly loss of ($0.10) per share, missing expectations and reflecting a 31.3% decrease in revenue year-over-year.

Evolent Health, Inc (NYSE:EVH - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 5,582,867 shares were traded during mid-day trading, an increase of 116% from the previous session's volume of 2,587,146 shares.The stock last traded at $9.25 and had previously closed at $9.02.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EVH shares. JMP Securities restated a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research note on Friday, June 20th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a research note on Tuesday, May 13th. UBS Group increased their price objective on Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Truist Financial increased their price objective on Evolent Health from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $17.93.

Evolent Health Stock Up 9.2%

The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -5.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $10.07 and a 200-day simple moving average of $9.55.

Evolent Health (NYSE:EVH - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.20). Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The business had revenue of $444.33 million during the quarter, compared to analyst estimates of $459.43 million. During the same quarter last year, the business posted $0.30 earnings per share. The business's quarterly revenue was down 31.3% compared to the same quarter last year. Evolent Health has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Institutional Trading of Evolent Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Durable Capital Partners LP acquired a new stake in shares of Evolent Health in the second quarter valued at $72,326,000. Eventide Asset Management LLC increased its stake in shares of 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 in the last quarter. Engaged Capital LLC increased its stake in shares of Evolent Health by 13.0% in the second quarter. Engaged Capital LLC now owns 5,854,468 shares of the technology company's stock valued at $65,921,000 after buying an additional 675,000 shares in the last quarter. Cadian Capital Management LP acquired a new stake in shares of Evolent Health in the fourth quarter valued at $58,781,000. Finally, Granahan Investment Management LLC increased its stake in shares of Evolent Health by 5.2% in the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock valued at $41,329,000 after buying an additional 181,893 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.