Evolent Health’s (EVH) Overweight Rating Reiterated at Piper Sandler

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

A number of other brokerages have also recently commented on EVH. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a report on Friday. JMP Securities reissued a “market outperform” rating and set a $12.00 price objective on shares of Evolent Health in a research note on Friday, February 14th. UBS Group reduced their target price on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Citigroup lowered their target price on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Evolent Health presently has an average rating of “Buy” and an average target price of $17.79.

Evolent Health Price Performance

EVH stock opened at $10.73 on Friday. The firm has a 50 day moving average of $10.77 and a 200-day moving average of $18.92. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -11.65 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 12-month low of $9.45 and a 12-month high of $35.00.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data 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 firm 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 analysts expect that Evolent Health will post 0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Evolent Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Evolent Health in the fourth quarter valued at approximately $26,000. R Squared Ltd bought a new position in Evolent Health during the 4th quarter valued at $31,000. AlphaQuest LLC grew its stake in Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares in the last quarter. Covestor Ltd grew its position in shares of Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,358 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.