Needham & Company LLC Reaffirms Buy Rating for Evolent Health (NYSE:EVH)

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $15.00 price target on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 40.02% from the stock’s current price.

A number of other research firms have also weighed in on EVH. Barclays decreased their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Stephens decreased their price target on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Citigroup dropped their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Canaccord Genuity Group decreased 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. Finally, JPMorgan Chase & Co. lowered their price target on Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.92.

Evolent Health Price Performance

Shares of NYSE EVH opened at $10.71 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. Evolent Health has a fifty-two week low of $9.45 and a fifty-two week high of $35.00. The stock has a market cap of $1.25 billion, a PE ratio of -11.77 and a beta of 1.45. The stock has a fifty day moving average of $10.77 and a 200-day moving average of $18.92.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. Equities research analysts anticipate that Evolent Health will post 0.22 earnings per share for the current year.

Institutional Trading of Evolent Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP purchased a new position in shares of Evolent Health during the third quarter worth approximately $7,070,000. Foundry Partners LLC purchased a new position in Evolent Health in the 3rd quarter worth $10,042,000. Salem Investment Counselors Inc. lifted its stake in Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after purchasing an additional 121,369 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Evolent Health by 140.0% in the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company’s stock worth $11,946,000 after purchasing an additional 246,400 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Evolent Health by 7.0% during the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock valued at $1,469,000 after buying an additional 8,552 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.