Needham & Company LLC Reaffirms “Buy” Rating for Evolent Health (NYSE:EVH)

Evolent Health (NYSE:EVH)‘s stock had its “buy” rating restated by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $15.00 target price on the technology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 50.66% from the company’s previous close.

Several other analysts have also recently issued reports on EVH. UBS Group dropped their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. JMP Securities dropped their price objective on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a research note on Friday, January 10th. Oppenheimer decreased their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Canaccord Genuity Group decreased their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $18.38.

Evolent Health Stock Up 3.7 %

Shares of NYSE EVH opened at $9.96 on Wednesday. Evolent Health has a 12-month low of $9.45 and a 12-month high of $35.00. The stock has a market cap of $1.16 billion, a PE ratio of -10.94 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. The company has a 50-day moving average of $10.88 and a 200 day moving average of $19.37.

Hedge Funds Weigh In On Evolent Health

Several large 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 4th quarter worth approximately $26,000. R Squared Ltd acquired a new position in shares of Evolent Health in the 4th quarter worth approximately $31,000. AlphaQuest LLC lifted its holdings in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after acquiring an additional 3,031 shares during the last quarter. Covestor Ltd lifted its holdings 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 during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 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.