Truist Financial Issues Positive Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH - Get Free Report) had its target price upped by analysts at Truist Financial from $14.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Truist Financial's target price would suggest a potential upside of 37.93% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. 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. JMP Securities reaffirmed a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research report on Friday, June 20th. Finally, UBS Group boosted their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Evolent Health has an average rating of "Buy" and an average target price of $17.93.

Evolent Health Trading Up 1.4%

NYSE:EVH traded up $0.16 during mid-day trading on Thursday, reaching $11.60. 201,920 shares of the company's stock traded hands, compared to its average volume of 2,495,648. Evolent Health has a 12-month low of $7.06 and a 12-month high of $33.63. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -9.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50 day moving average price of $9.45 and a 200-day moving average price of $9.82.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in EVH. Vanguard Group Inc. lifted its position in Evolent Health by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock valued at $125,676,000 after purchasing an additional 259,781 shares during the period. Eventide Asset Management LLC boosted its position in Evolent Health by 33.5% during the first quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company's stock worth $57,555,000 after acquiring an additional 1,524,885 shares during the last quarter. Engaged Capital LLC boosted its position in Evolent Health by 35.5% during the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock worth $60,804,000 after acquiring an additional 1,415,300 shares during the last quarter. Cadian Capital Management LP acquired a new position in Evolent Health in the 4th quarter valued at about $58,781,000. Finally, Granahan Investment Management LLC boosted its holdings in Evolent Health by 5.2% in the 4th quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock valued at $41,329,000 after purchasing an additional 181,893 shares during 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.

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