Evolent Health (NYSE:EVH) PT Raised to $50.00 at BTIG Research

Evolent Health (NYSE:EVHGet Rating) had its price target hoisted by equities research analysts at BTIG Research from $45.00 to $50.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. BTIG Research’s price target suggests a potential upside of 40.53% from the company’s current price.

A number of other equities research analysts have also issued reports on EVH. Piper Sandler dropped their target price on Evolent Health from $37.00 to $35.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. Cowen boosted their price target on Evolent Health to $52.00 in a research report on Monday, July 25th. Cowen boosted their price target on Evolent Health from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 21st. Royal Bank of Canada boosted their price target on Evolent Health from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Canaccord Genuity Group boosted their price target on Evolent Health from $40.00 to $45.00 in a research report on Monday, May 9th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Evolent Health has a consensus rating of “Moderate Buy” and a consensus target price of $46.78.

Evolent Health Stock Down 2.5 %

Shares of Evolent Health stock opened at $35.58 on Wednesday. The business’s 50 day simple moving average is $31.13 and its 200 day simple moving average is $28.79. Evolent Health has a 52-week low of $21.36 and a 52-week high of $39.00. The firm has a market cap of $3.26 billion, a PE ratio of -111.19 and a beta of 1.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.21 and a current ratio of 1.21.

Evolent Health (NYSE:EVHGet Rating) last announced its earnings results on Wednesday, May 4th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. Evolent Health had a positive return on equity of 0.40% and a negative net margin of 2.63%. The business had revenue of $297.10 million for the quarter, compared to analyst estimates of $286.81 million. During the same quarter last year, the firm earned ($0.06) EPS. Evolent Health’s revenue for the quarter was up 37.7% compared to the same quarter last year. On average, analysts predict that Evolent Health will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EVH. Vigilant Capital Management LLC bought a new stake in Evolent Health in the 1st quarter valued at $32,000. Point72 Hong Kong Ltd bought a new stake in Evolent Health in the 4th quarter valued at $72,000. Nisa Investment Advisors LLC boosted its stake in Evolent Health by 67.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $73,000 after purchasing an additional 910 shares during the period. Advisor Group Holdings Inc. boosted its stake in Evolent Health by 38.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,055 shares of the technology company’s stock valued at $113,000 after purchasing an additional 1,135 shares during the period. Finally, AdvisorShares Investments LLC bought a new stake in Evolent Health in the 1st quarter valued at $192,000. 93.27% of the stock is owned by institutional investors and hedge funds.

About Evolent Health

(Get Rating)

Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

Recommended Stories

Analyst Recommendations for Evolent Health (NYSE:EVH)

Want More Great Investing Ideas?

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.