Needham & Company LLC Cuts Evolent Health (NYSE:EVH) Price Target to $4.00

Evolent Health (NYSE:EVH) had its price target lowered by Needham & Company LLC from $15.00 to $4.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other analysts have also recently issued reports on EVH. KeyCorp cut Evolent Health from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. Canaccord Genuity Group lowered their price target on Evolent Health from $16.00 to $9.00 and set a “buy” rating for the company in a report on Friday, November 14th. JPMorgan Chase & Co. dropped their price target on Evolent Health from $13.00 to $7.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Royal Bank Of Canada decreased their price objective on shares of Evolent Health from $5.00 to $3.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Zacks Research raised shares of Evolent Health from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Evolent Health Stock Down 2.0%

Shares of NYSE:EVH opened at $3.26 on Wednesday. The firm has a market cap of $363.26 million, a PE ratio of -0.63 and a beta of 0.27. The company has a fifty day simple moving average of $3.49 and a 200 day simple moving average of $5.80. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.25. Evolent Health has a 12-month low of $2.50 and a 12-month high of $12.06.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $468.72 million during the quarter, compared to analyst estimates of $468.48 million. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.30%. The firm’s revenue for the quarter was down 27.5% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS. On average, equities research analysts anticipate that Evolent Health will post 0.08 EPS for the current fiscal year.

Institutional Trading of Evolent Health

A number of large investors have recently modified their holdings of EVH. Durable Capital Partners LP bought a new stake in Evolent Health in the 2nd quarter valued at about $72,326,000. Rubicon Founders LLC acquired a new stake in shares of Evolent Health in the third quarter valued at approximately $49,204,000. 8 Knots Management LLC bought a new stake in shares of Evolent Health during the second quarter valued at approximately $32,802,000. Eventide Asset Management LLC raised its holdings in shares of Evolent Health by 54.0% during the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock valued at $53,246,000 after buying an additional 2,205,659 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Evolent Health by 162.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock worth $26,861,000 after buying an additional 1,754,520 shares during the period.

Key Evolent Health News

Here are the key news stories impacting Evolent Health this week:

• Positive Sentiment: BTIG set a new $8.00 price target for EVH, signaling confidence that the stock has upside from current levels. Evolent Health (NYSE:EVH) Given New $8.00 Price Target at BTIG Research
• Positive Sentiment: UBS lowered its target to $5.00 but kept a “buy” rating, implying upside (reported as ~54% above the then-current price). UBS lowers price target to $5.00
• Positive Sentiment: Citigroup cut its target to $4.00 but maintained a “buy” rating, which suggests analysts still see recovery potential despite near-term weakness. Citigroup lowers price target to $4.00
• Positive Sentiment: Seeking Alpha published a bullish-themed piece arguing EVH is “cheap, levered, but ready to rebound,” which can attract value-oriented buyers. Evolent Health: Cheap, Levered, But Ready To Rebound
• Neutral Sentiment: Evolent announced executive participation in upcoming investor conferences with live webcasts — useful for transparency but unlikely to move the stock materially on its own. Evolent to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Yahoo Finance ran a roundup noting a sharp intraday move earlier; such coverage increases attention/volatility but doesn’t change fundamentals. Evolent Health (EVH) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Royal Bank of Canada set a $3.00 target — a lower valuation point that may anchor some expectations but was published alongside other divergent targets. Evolent Health (NYSE:EVH) Given New $3.00 Price Target at Royal Bank Of Canada
• Neutral Sentiment: Needham published a $4.00 price target; another mid-range projection adding to the wide spread of analyst views. Evolent Health (NYSE:EVH) Given New $4.00 Price Target at Needham & Company LLC
• Negative Sentiment: KeyCorp lowered EVH to “Sector Weight” (a downgrade), which is a clear negative signal and likely contributed to selling pressure. Evolent Health (NYSE:EVH) Rating Lowered to “Sector Weight” at KeyCorp

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.