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

Piper Sandler restated their overweight rating on shares of Evolent Health (NYSE:EVH) in a research note issued to investors on Friday morning,Benzinga reports. Piper Sandler currently has a $16.00 price objective on the technology company’s stock, down from their previous price objective of $17.00.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Evolent Health from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Citigroup dropped their price target on Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Canaccord Genuity Group dropped their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Stephens dropped their price target on 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. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Down 2.5 %

Evolent Health stock opened at $10.44 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -12.73 and a beta of 1.45. The stock has a fifty day simple moving average of $10.75 and a two-hundred day simple moving average of $18.82. Evolent Health has a 12 month low of $9.45 and a 12 month high of $35.00. 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 (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Equities analysts predict that Evolent Health will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several large investors have recently made changes to their positions in EVH. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Evolent Health in the fourth quarter valued at about $26,000. R Squared Ltd purchased a new position in shares of Evolent Health in the fourth quarter valued at about $31,000. AlphaQuest LLC lifted its position 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 valued at $34,000 after acquiring an additional 3,031 shares in the last quarter. Covestor Ltd lifted its position 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 acquiring an additional 826 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position 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 valued at $56,000 after acquiring an additional 2,358 shares in the last quarter.

About Evolent Health

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.