TD Cowen Issues Positive Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price hoisted by research analysts at TD Cowen from $5.00 to $6.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. TD Cowen’s price objective suggests a potential upside of 34.08% from the company’s current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings upgraded Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Needham & Company LLC raised their price objective on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Canaccord Genuity Group reduced their target price on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Citigroup upgraded shares of Evolent Health from a “neutral” rating to a “buy” rating and lowered their target price for the company from $6.75 to $6.00 in a research note on Monday, August 10th. Finally, Truist Financial cut their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.04.

Evolent Health Trading Down 4.4%

NYSE:EVH traded down $0.20 on Monday, reaching $4.47. The stock had a trading volume of 737,622 shares, compared to its average volume of 3,065,245. The company has a market cap of $505.94 million, a price-to-earnings ratio of -0.98 and a beta of 0.80. The firm’s fifty day moving average is $4.77 and its two-hundred day moving average is $3.73. Evolent Health has a 12-month low of $2.10 and a 12-month high of $10.08. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Evolent Health had a negative net margin of 24.08% and a negative return on equity of 4.27%. The firm had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The company’s revenue was up 46.9% on a year-over-year basis. Equities analysts expect that Evolent Health will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after acquiring an additional 4,000 shares during the period. Strs Ohio acquired a new position in shares of Evolent Health in the 1st quarter worth approximately $47,000. Headlands Technologies LLC acquired a new stake in Evolent Health during the second quarter worth approximately $58,000. Quantbot Technologies LP acquired a new stake in shares of Evolent Health in the 3rd quarter valued at about $88,000. Finally, Caxton Associates LLP acquired a new position in Evolent Health during the third quarter worth $93,000.

About Evolent Health

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.