Evolent Health (NYSE:EVH) Receives New Coverage from Analysts at Citigroup

Citigroup initiated coverage on shares of Evolent Health (NYSE:EVH) in a research report issued on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $40.00 price target on the technology company’s stock. Citigroup’s price objective points to a potential upside of 32.76% from the stock’s previous close.

A number of other brokerages have also recently commented on EVH. Oppenheimer started coverage on Evolent Health in a report on Friday, March 1st. They issued an “outperform” rating and a $45.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Friday, March 15th. William Blair reaffirmed an “outperform” rating on shares of Evolent Health in a research note on Tuesday, January 9th. Barclays began coverage on shares of Evolent Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $39.00 price objective on the stock. Finally, Canaccord Genuity Group dropped their target price on Evolent Health from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Evolent Health Stock Performance

NYSE EVH opened at $30.13 on Monday. Evolent Health has a twelve month low of $23.33 and a twelve month high of $36.70. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -23.72 and a beta of 1.54. The business has a 50-day moving average price of $31.93 and a 200-day moving average price of $30.29.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.13. The firm had revenue of $556.06 million during the quarter, compared to analyst estimates of $541.87 million. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. As a group, equities research analysts predict that Evolent Health will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Institutional investors and hedge funds have recently bought and sold shares of the company. ICA Group Wealth Management LLC bought a new stake in shares of Evolent Health in the 4th quarter valued at about $33,000. Signaturefd LLC boosted its position in Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock valued at $48,000 after purchasing an additional 1,353 shares in the last quarter. NBC Securities Inc. bought a new stake in Evolent Health during the fourth quarter valued at about $69,000. Banque Cantonale Vaudoise purchased a new position in Evolent Health in the first quarter valued at about $88,000. Finally, Nisa Investment Advisors LLC raised its holdings in Evolent Health by 389.3% in the third quarter. Nisa Investment Advisors LLC now owns 5,035 shares of the technology company’s stock worth $137,000 after purchasing an additional 4,006 shares in 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.