Evolent Health (NYSE:EVH) Receives Overweight Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Evolent Health (NYSE:EVH) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $16.00 price target on the technology company’s stock, down from their prior price target of $17.00.

A number of other equities research analysts have also weighed in on EVH. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of Evolent Health in a report on Friday. BTIG Research reduced their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, December 3rd. Canaccord Genuity Group reduced their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Stephens reduced their price objective 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. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Evolent Health currently has an average rating of “Buy” and an average target price of $17.79.

Evolent Health Price Performance

Evolent Health stock opened at $10.44 on Friday. The firm has a market cap of $1.22 billion, a PE ratio of -11.47 and a beta of 1.45. Evolent Health has a 52-week low of $9.45 and a 52-week high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $10.75 and its two-hundred day moving average is $18.85.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business 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%. On average, research analysts expect that Evolent Health will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd grew its position in Evolent Health by 138.1% during the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Evolent Health during the 4th quarter worth $26,000. R Squared Ltd purchased a new position in Evolent Health during the 4th quarter worth $31,000. AlphaQuest LLC grew its position in Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares during 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.