Evolent Health’s (EVH) Buy Rating Reiterated at Needham & Company LLC

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $15.00 target price on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 43.66% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Royal Bank of Canada cut their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Canaccord Genuity Group cut their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. BTIG Research cut their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. UBS Group cut their target price on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Stephens cut their price objective on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. One 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 data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $17.79.

Evolent Health Stock Down 2.5 %

EVH opened at $10.44 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of -12.73 and a beta of 1.45. The business’s 50-day moving average price is $10.75 and its 200-day moving average price is $18.83. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 12 month low of $9.45 and a 12 month high of $35.00.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. On average, equities analysts expect that Evolent Health will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

Several large investors have recently made changes to their positions in the business. State of Wyoming purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $95,000. Sea Cliff Partners Management LP purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $9,338,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of Evolent Health by 37.3% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,371,053 shares of the technology company’s stock valued at $15,424,000 after purchasing an additional 372,793 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $988,000. Finally, Redwood Investment Management LLC purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $468,000.

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.