Cantor Fitzgerald Reiterates “Buy” Rating for Evolent Health, Inc (NYSE:EVH)

Evolent Health, Inc (NYSE:EVH)‘s stock had its “buy” rating reiterated by analysts at Cantor Fitzgerald in a report released on Thursday, November 2nd. They presently have a $30.00 price objective on the technology company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 158.62% from the company’s previous close.

The analysts wrote, “3Q17 results. Adjusted 3Q17 revenue of $108.4 million (+80% y/y) came in ahead of FactSet consensus and our estimate of $104 million. The number of lives on the platform was 2.7 million (-4% q/q, +84.7% y/y). The sequential decline was related to churn in Medicaid. Adjusted transformation revenue of $8.2 million increased 6% y/y. Transformation revenue can fluctuate quarter- to-quarter due to the timing of customer contracts and the scope of delivery. Adjusted platform and operations revenue of $100.2 million increased 91% y/ y driven by an increase in the number of lives on the platform. Average PMPM was $12.20 in 3Q17. EVH achieved positive adjusted EBITDA in the quarter.””

A number of other research analysts also recently issued reports on EVH. BidaskClub raised shares of Evolent Health from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. ValuEngine cut shares of Evolent Health from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Robert W. Baird set a $35.00 price objective on shares of Evolent Health and gave the company a “buy” rating in a report on Tuesday, August 8th. Cowen and Company reissued an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of Evolent Health in a research note on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.00.

Evolent Health (NYSE EVH) opened at $11.60 on Thursday. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.11. Evolent Health has a 1-year low of $10.30 and a 1-year high of $27.50.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The business had revenue of $107.90 million during the quarter, compared to the consensus estimate of $104.49 million. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. The business’s revenue for the quarter was up 79.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.26) earnings per share. equities analysts forecast that Evolent Health will post -0.57 EPS for the current year.

WARNING: “Cantor Fitzgerald Reiterates “Buy” Rating for Evolent Health, Inc (NYSE:EVH)” was originally published by BBNS and is the property of of BBNS. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://baseballnewssource.com/markets/evolent-health-inc-evh-rating-reiterated-by-cantor-fitzgerald/1753196.html.

A number of large investors have recently bought and sold shares of EVH. ETF Managers Group LLC acquired a new position in shares of Evolent Health in the 2nd quarter worth approximately $102,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Evolent Health by 815.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock worth $120,000 after acquiring an additional 4,232 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Evolent Health in the 2nd quarter worth approximately $198,000. Royal Bank of Canada lifted its holdings in shares of Evolent Health by 1,197.8% in the 2nd quarter. Royal Bank of Canada now owns 8,293 shares of the technology company’s stock worth $210,000 after acquiring an additional 7,654 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Evolent Health in the 3rd quarter worth approximately $156,000. Institutional investors own 98.53% of the company’s stock.

About Evolent Health

Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.

Analyst Recommendations for Evolent Health (NYSE:EVH)

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

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.