Evolent Health (NYSE:EVH) Price Target Increased to $55.00 by Analysts at Canaccord Genuity Group

Evolent Health (NYSE:EVH – Get Rating) had its price objective lifted by stock analysts at Canaccord Genuity Group from $45.00 to $55.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 53.89% from the company’s current price.

A number of other research analysts also recently issued reports on EVH. Cowen upped their price target on Evolent Health from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, June 21st. Royal Bank of Canada increased their target price on Evolent Health from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday. BTIG Research increased their target price on Evolent Health from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. Cowen increased their target price on Evolent Health to $52.00 in a report on Monday, July 25th. Finally, Piper Sandler increased their target price on Evolent Health from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Evolent Health has an average rating of “Moderate Buy” and an average target price of $46.78.

Evolent Health Trading Up 0.4 %

Shares of NYSE:EVH opened at $35.74 on Thursday. The company has a market cap of $3.27 billion, a P/E ratio of -111.69 and a beta of 1.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.21 and a quick ratio of 1.21. Evolent Health has a 1 year low of $21.36 and a 1 year high of $39.00. The stock’s fifty day moving average price is $31.26 and its 200-day moving average price is $28.87.

Evolent Health (NYSE:EVH – Get Rating) last announced its quarterly 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. The firm had revenue of $297.10 million for the quarter, compared to the consensus estimate of $286.81 million. Evolent Health had a positive return on equity of 0.40% and a negative net margin of 2.63%. The company’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. Sell-side analysts expect that Evolent Health will post -0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vigilant Capital Management LLC bought a new position in shares of Evolent Health in the first quarter worth about $32,000. Nisa Investment Advisors LLC grew its position in shares of Evolent Health by 67.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock worth $73,000 after purchasing an additional 910 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Evolent Health during the fourth quarter worth about $72,000. Advisor Group Holdings Inc. grew its position in shares of Evolent Health by 38.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,055 shares of the technology company’s stock worth $113,000 after purchasing an additional 1,135 shares in the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in shares of Evolent Health during the first quarter worth about $192,000. Institutional investors own 93.27% of the company’s stock.

Evolent Health Company Profile

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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.