Evolent Health (NYSE:EVH) Stock Price Crosses Above 50-Day Moving Average of $21.71

Evolent Health, Inc. (NYSE:EVH) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $21.71 and traded as high as $27.84. Evolent Health shares last traded at $27.38, with a volume of 2,986,061 shares changing hands.

Analyst Upgrades and Downgrades

EVH has been the topic of several analyst reports. JMP Securities cut their target price on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Citigroup assumed coverage on Evolent Health in a report on Monday, April 22nd. They set a “buy” rating and a $40.00 price objective on the stock. Truist Financial upgraded shares of Evolent Health from a “hold” rating to a “buy” rating and upped their price target for the company from $28.00 to $33.00 in a report on Friday, August 9th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of Evolent Health in a research report on Tuesday, July 30th. Finally, Canaccord Genuity Group lowered their target price on Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to MarketBeat.com, Evolent Health currently has a consensus rating of “Moderate Buy” and an average target price of $41.10.

Evolent Health Trading Up 0.7 %

The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -21.90 and a beta of 1.54. The business has a 50-day moving average of $21.79 and a 200-day moving average of $26.59. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. The business had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. During the same period last year, the business earned $0.06 earnings per share. The firm’s revenue was up 37.9% on a year-over-year basis. Research analysts anticipate that Evolent Health, Inc. will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently bought and sold shares of EVH. Vanguard Group Inc. raised its position in shares of Evolent Health by 0.9% in the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after purchasing an additional 93,739 shares during the period. Wellington Management Group LLP lifted its position in Evolent Health by 96.1% during the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after acquiring an additional 4,073,959 shares during the last quarter. RA Capital Management L.P. boosted its holdings in shares of Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after acquiring an additional 3,187,000 shares during the period. William Blair Investment Management LLC grew its position in shares of Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after purchasing an additional 1,308,376 shares during the last quarter. Finally, Engaged Capital LLC increased its stake in shares of Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares during the period.

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.