Evolent Health (NYSE:EVH) Receives “Overweight” Rating from Piper Sandler

Evolent Health (NYSE:EVH)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a research note issued to investors on Friday,Benzinga reports. They currently have a $16.00 price target on the technology company’s stock, down from their prior price target of $17.00. Piper Sandler’s price target suggests a potential upside of 49.11% from the company’s current price.

Several other brokerages have also recently issued reports on EVH. Oppenheimer dropped their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their price target on Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Stephens reduced their price objective on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. BTIG Research dropped their target price on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reduced their price target on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Performance

Shares of NYSE:EVH opened at $10.73 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health has a 1 year low of $9.45 and a 1 year high of $35.00. The firm has a market capitalization of $1.25 billion, a PE ratio of -11.65 and a beta of 1.45. The business’s 50 day moving average price is $10.77 and its 200-day moving average price is $18.92.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. As a group, equities research analysts expect that Evolent Health will post 0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Large investors have recently made changes to their positions in the stock. Covestor Ltd boosted its stake in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the period. Summit Creek Advisors LLC lifted its stake in Evolent Health by 0.8% in the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock worth $2,274,000 after acquiring an additional 1,636 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health in the 4th quarter valued at $26,000. Parkside Financial Bank & Trust lifted its holdings in Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after buying an additional 2,358 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in Evolent Health by 28.0% in the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock valued at $131,000 after purchasing an additional 2,542 shares during the last quarter.

Evolent Health Company Profile

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.