Evolent Health (NYSE:EVH) Price Target Raised to $7.00

Evolent Health (NYSE:EVH) had its price objective upped by Canaccord Genuity Group from $6.00 to $7.00 in a report published on Tuesday, Marketbeat reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Needham & Company LLC lifted their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Tuesday, June 30th. Finally, Citigroup upped their target price on shares of Evolent Health from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, May 15th. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.25.

Evolent Health Trading Down 16.6%

Shares of Evolent Health stock opened at $4.64 on Tuesday. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.32 and a current ratio of 1.32. Evolent Health has a 52 week low of $2.10 and a 52 week high of $10.35. The stock has a 50 day moving average price of $4.84 and a two-hundred day moving average price of $3.76. The stock has a market capitalization of $522.47 million, a PE ratio of -0.98 and a beta of 0.76.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The company had revenue of $496.25 million for the quarter, compared to analyst estimates of $534.00 million. During the same period in the prior year, the firm earned $0.06 earnings per share. Evolent Health’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts anticipate that Evolent Health will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its stake in shares of Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after acquiring an additional 4,000 shares in the last quarter. Strs Ohio bought a new position in shares of Evolent Health during the first quarter valued at about $47,000. Headlands Technologies LLC bought a new position in shares of Evolent Health during the second quarter valued at about $58,000. Quantbot Technologies LP purchased a new position in Evolent Health during the third quarter worth about $88,000. Finally, Caxton Associates LLP purchased a new position in Evolent Health during the third quarter worth about $93,000.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.