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

Evolent Health (NYSE:EVH - Get Free Report)'s stock had its "market outperform" rating reiterated by stock analysts at JMP Securities in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $13.00 target price on the technology company's stock. JMP Securities' target price indicates a potential upside of 23.57% from the company's previous close.

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

Evolent Health Price Performance

EVH traded up $1.27 on Friday, reaching $10.52. The company had a trading volume of 11,363,579 shares, compared to its average volume of 2,496,464. The company has a fifty day moving average of $8.82 and a 200-day moving average of $9.79. The company has a market capitalization of $1.24 billion, a P/E ratio of -8.55 and a beta of 0.88. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69. Evolent Health has a one year low of $7.06 and a one year high of $33.63.

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

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in Evolent Health by 2.1% in the first quarter. Rhumbline Advisers now owns 169,918 shares of the technology company's stock worth $1,609,000 after purchasing an additional 3,527 shares during the period. Strs Ohio bought a new position in shares of Evolent Health during the 1st quarter valued at about $47,000. Caxton Associates LLP bought a new position in shares of Evolent Health during the 1st quarter valued at about $252,000. Goldman Sachs Group Inc. lifted its holdings in shares of Evolent Health by 162.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company's stock valued at $26,861,000 after purchasing an additional 1,754,520 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Evolent Health by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company's stock valued at $1,217,000 after acquiring an additional 3,572 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.