Evolent Health (NYSE:EVH) Price Target Raised to $16.00

Evolent Health (NYSE:EVH - Get Free Report) had its price target upped by analysts at Truist Financial from $14.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Truist Financial's price target would indicate a potential upside of 67.71% from the stock's previous close.

EVH has been the topic of several other reports. JMP Securities reiterated a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a research report on Friday, June 20th. UBS Group lifted their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $17.93.

Evolent Health Stock Down 15.4%

Shares of Evolent Health stock traded down $1.73 during trading hours on Thursday, hitting $9.54. 5,939,479 shares of the company's stock traded hands, compared to its average volume of 2,525,768. The stock has a 50 day simple moving average of $9.47 and a 200-day simple moving average of $9.79. 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 cap of $1.12 billion, a PE ratio of -7.76 and a beta of 1.01. Evolent Health has a twelve month low of $7.06 and a twelve month high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The technology company reported $0.06 EPS 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 company had revenue of $483.65 million for the quarter, compared to analyst estimates of $460.15 million. During the same quarter in the prior year, the business earned $0.34 EPS. Evolent Health's revenue was down 24.4% compared to the same quarter last year. Equities research analysts anticipate that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Evolent Health during the first quarter worth $25,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health in the 4th quarter worth $26,000. AlphaQuest LLC grew its stake in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after acquiring an additional 3,031 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Evolent Health by 82.6% in the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company's stock worth $39,000 after acquiring an additional 1,577 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Evolent Health in the 1st quarter worth $47,000.

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.