Evolent Health (NYSE:EVH) Trading Up 7.6% - Here's Why

Key Points

• Evolent Health's share price rose by 7.6% to close at $9.47, despite an 82% decline in average trading volume.
• Analysts maintain a consensus buy rating for Evolent Health, with target prices ranging from $13.00 to $17.93.
• The company reported a negative net margin of 5.94% and a revenue decline of 31.3% year-over-year, missing earnings expectations.

Evolent Health, Inc (NYSE:EVH - Get Free Report)'s share price was up 7.6% during trading on Wednesday . The company traded as high as $9.40 and last traded at $9.47. Approximately 467,340 shares traded hands during trading, a decline of 82% from the average daily volume of 2,534,476 shares. The stock had previously closed at $8.80.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EVH shares. Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of Evolent Health in a research report on Tuesday, May 13th. UBS Group boosted their target price on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and set a $13.00 price target on shares of Evolent Health in a research report on Friday, June 20th. Finally, Truist Financial lifted their price objective on Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, July 17th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $17.93.

Evolent Health Stock Up 2.9%

The stock's fifty day moving average price is $9.97 and its 200-day moving average price is $9.63. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.64 and a beta of 0.82.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.20). Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.78%. The business had revenue of $444.33 million during the quarter, compared to analyst estimates of $459.43 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The firm's quarterly revenue was down 31.3% on a year-over-year basis. On average, sell-side analysts predict that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC bought a new stake in shares of Evolent Health in the 4th quarter valued at about $3,927,000. Russell Investments Group Ltd. increased its position in Evolent Health by 26.7% during the fourth quarter. Russell Investments Group Ltd. now owns 76,279 shares of the technology company's stock worth $858,000 after buying an additional 16,068 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Evolent Health in the fourth quarter valued at approximately $2,542,000. Sterling Capital Management LLC lifted its position in shares of Evolent Health by 36.5% in the fourth quarter. Sterling Capital Management LLC now owns 106,344 shares of the technology company's stock valued at $1,196,000 after buying an additional 28,424 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Evolent Health by 234.4% during the 4th quarter. Barclays PLC now owns 915,422 shares of the technology company's stock worth $10,298,000 after acquiring an additional 641,646 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.

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