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.
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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.
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