JMP Securities Reaffirms Market Outperform Rating for Evolent Health (NYSE:EVH)

Evolent Health (NYSE:EVH - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities research analysts at JMP Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $13.00 target price on the technology company's stock. JMP Securities' price objective suggests a potential upside of 45.09% from the company's current price.

Several other equities research analysts have also issued reports on EVH. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of Evolent Health in a report on Tuesday, May 13th. Truist Financial lowered their target price on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Piper Sandler restated an "overweight" rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, UBS Group upped their target price on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $17.79.

Evolent Health Price Performance

NYSE:EVH opened at $8.96 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98. Evolent Health has a one year low of $7.06 and a one year high of $33.63. The company has a fifty day moving average price of $8.82 and a 200 day moving average price of $9.84. The stock has a market cap of $1.05 billion, a P/E ratio of -7.27 and a beta of 0.87.

Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The company had revenue of $483.65 million during the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The firm's quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. Analysts anticipate that Evolent Health will post 0.08 earnings per share for the current year.

Institutional Trading of Evolent Health

A number of large investors have recently made changes to their positions in EVH. Rhumbline Advisers lifted its stake in shares of Evolent Health by 2.1% in the first quarter. Rhumbline Advisers now owns 169,918 shares of the technology company's stock valued at $1,609,000 after buying an additional 3,527 shares in the last quarter. Strs Ohio acquired a new position in Evolent Health during the first quarter valued at $47,000. Caxton Associates LLP acquired a new position in Evolent Health during the 1st quarter worth $252,000. Goldman Sachs Group Inc. boosted its stake in 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 worth $26,861,000 after purchasing an additional 1,754,520 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Evolent Health by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company's stock worth $1,217,000 after acquiring an additional 3,572 shares during the last quarter.

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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