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

Needham & Company LLC reissued their buy rating on shares of Evolent Health (NYSE:EVH) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $15.00 price target on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Barclays cut their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. UBS Group cut their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Citigroup lowered their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. JMP Securities decreased their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, January 10th. Finally, Truist Financial cut their price objective on Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $17.92.

Evolent Health Price Performance

NYSE EVH opened at $10.07 on Wednesday. The company has a 50 day simple moving average of $10.86 and a 200-day simple moving average of $19.28. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -11.06 and a beta of 1.45. Evolent Health has a 52-week low of $9.45 and a 52-week high of $35.00.

Institutional Investors Weigh In On Evolent Health

A number of large investors have recently added to or reduced their stakes in EVH. Covestor Ltd raised its position in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC raised its position in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after purchasing an additional 1,556 shares during the last quarter. Summit Creek Advisors LLC raised its position in Evolent Health by 0.8% in the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock valued at $2,274,000 after purchasing an additional 1,636 shares during the last quarter. Creative Planning raised its position in Evolent Health by 12.2% in the second quarter. Creative Planning now owns 18,091 shares of the technology company’s stock valued at $346,000 after purchasing an additional 1,973 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Evolent Health during the fourth quarter worth about $26,000.

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.