Evolent Health (NYSE:EVH) Shares Cross Above Fifty Day Moving Average - Here's Why

Key Points

• Evolent Health shares recently crossed above their 50‑day moving average ($2.77), trading as high as $3.28 and last at $3.105 with about 1.55 million shares changing hands.
• Analyst sentiment is mixed-but-positive: 13 Buys, 3 Holds and 1 Sell, yielding a consensus of "Moderate Buy" and an average target of $6.04, though several firms have trimmed targets recently.
• Fundamentals are mixed — the company beat EPS estimates ($0.08 vs. $0.06) while revenue fell 27.5% year‑over‑year to $468.7M; it still posts a negative net margin (‑28.49%), a negative P/E, ~$347M market cap and a high debt‑to‑equity ratio (2.34).

Evolent Health, Inc (NYSE:EVH - Get Free Report) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.77 and traded as high as $3.28. Evolent Health shares last traded at $3.1050, with a volume of 1,550,038 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TD Cowen reissued a "buy" rating on shares of Evolent Health in a research note on Monday, March 2nd. BTIG Research dropped their price target on shares of Evolent Health from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Oppenheimer dropped their price target on shares of Evolent Health from $12.00 to $6.00 and set an "outperform" rating for the company in a research note on Monday, March 2nd. Citigroup dropped their price target on shares of Evolent Health from $6.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. Finally, Needham & Company LLC dropped their price target on shares of Evolent Health from $15.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $6.04.

Evolent Health Stock Performance

The stock has a market cap of $346.64 million, a price-to-earnings ratio of -0.60 and a beta of 0.37. The stock's fifty day moving average is $2.77 and its 200-day moving average is $4.10. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.34.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $468.72 million during the quarter, compared to analysts' expectations of $468.48 million. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.49%. The business's revenue for the quarter was down 27.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.02) earnings per share. On average, analysts forecast that Evolent Health, Inc will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EVH. CIBC Private Wealth Group LLC grew its holdings in Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company's stock valued at $35,000 after purchasing an additional 4,000 shares during the period. Strs Ohio acquired a new position in shares of Evolent Health in the first quarter valued at approximately $47,000. Vise Technologies Inc. acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $50,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health in the third quarter valued at approximately $51,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Evolent Health in the third quarter valued at approximately $56,000.

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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