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

Needham & Company LLC reaffirmed their buy rating on shares of Evolent Health (NYSE:EVH) in a report issued on Friday,Benzinga reports. Needham & Company LLC currently has a $15.00 price objective on the technology company’s stock.

Other analysts have also recently issued reports about the stock. Truist Financial reduced their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their target price on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Barclays reduced their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. UBS Group reduced their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Canaccord Genuity Group reduced their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Performance

EVH stock opened at $10.44 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $1.22 billion, a P/E ratio of -11.47 and a beta of 1.45. The firm has a 50 day simple moving average of $10.75 and a 200 day simple moving average of $18.85. Evolent Health has a 52 week low of $9.45 and a 52 week high of $35.00.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The company had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. Research analysts anticipate that Evolent Health will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

A number of institutional investors have recently modified their holdings of the company. Creative Planning increased its position in Evolent Health by 139.1% during the third quarter. Creative Planning now owns 43,262 shares of the technology company’s stock worth $1,223,000 after acquiring an additional 25,171 shares during the period. Values First Advisors Inc. increased its position in Evolent Health by 21.0% during the third quarter. Values First Advisors Inc. now owns 32,129 shares of the technology company’s stock worth $909,000 after acquiring an additional 5,583 shares during the period. US Bancorp DE increased its position in Evolent Health by 180.3% during the third quarter. US Bancorp DE now owns 6,579 shares of the technology company’s stock worth $186,000 after acquiring an additional 4,232 shares during the period. Harbor Capital Advisors Inc. increased its position in Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after acquiring an additional 246,400 shares during the period. Finally, Principal Financial Group Inc. increased its position in Evolent Health by 268.0% during the third quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock worth $1,623,000 after acquiring an additional 41,788 shares during the period.

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.