Evolent Health (NYSE:EVH) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Evolent Health (NYSE:EVH) in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a $15.00 target price on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Stephens lowered their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their target price on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Oppenheimer lowered their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Citigroup lowered their target price on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, BTIG Research lowered their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $17.79.

Evolent Health Trading Down 2.5 %

Shares of NYSE:EVH opened at $10.44 on Friday. The company has a market cap of $1.22 billion, a PE ratio of -11.47 and a beta of 1.45. The company’s 50-day moving average price is $10.75 and its 200 day moving average price is $18.85. Evolent Health has a fifty-two week low of $9.45 and a fifty-two week high of $35.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EVH. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health in the fourth quarter worth about $26,000. R Squared Ltd acquired a new position in shares of Evolent Health in the fourth quarter worth about $31,000. AlphaQuest LLC boosted its holdings in shares of 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 buying an additional 3,031 shares during the period. Covestor Ltd boosted its holdings 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 worth $40,000 after buying an additional 826 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Evolent Health by 90.7% in the fourth 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 period.

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.