Evolent Health (EVH) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of Evolent Health (NYSE:EVH) from a hold rating to a buy rating in a research note issued to investors on Monday, February 4th.

A number of other brokerages have also recently commented on EVH. Zacks Investment Research cut shares of Evolent Health from a buy rating to a hold rating in a research note on Wednesday, January 16th. Cantor Fitzgerald reiterated a buy rating and issued a $37.00 price target on shares of Evolent Health in a research note on Monday, December 31st. Wells Fargo & Co increased their price target on shares of Evolent Health from $26.00 to $34.00 and gave the company an outperform rating in a research note on Wednesday, November 7th. Finally, Piper Jaffray Companies reiterated an overweight rating and issued a $34.00 price target on shares of Evolent Health in a research note on Wednesday, November 7th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $27.54.

Evolent Health stock traded up $0.10 during mid-day trading on Monday, reaching $13.29. The company’s stock had a trading volume of 2,395,676 shares, compared to its average volume of 1,350,357. The company has a market cap of $1.18 billion, a P/E ratio of -37.97 and a beta of 1.38. Evolent Health has a 12 month low of $12.88 and a 12 month high of $29.05. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.12.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Tuesday, February 26th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The firm had revenue of $193.10 million during the quarter, compared to analyst estimates of $188.66 million. Evolent Health had a negative net margin of 9.05% and a negative return on equity of 2.18%. The business’s revenue was up 69.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) EPS. On average, equities research analysts forecast that Evolent Health will post -0.41 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Research Global Investors raised its stake in Evolent Health by 3.9% in the 3rd quarter. Capital Research Global Investors now owns 7,642,195 shares of the technology company’s stock worth $217,038,000 after purchasing an additional 288,195 shares in the last quarter. Vanguard Group Inc raised its stake in Evolent Health by 8.3% in the 3rd quarter. Vanguard Group Inc now owns 5,713,530 shares of the technology company’s stock worth $162,264,000 after purchasing an additional 439,172 shares in the last quarter. Vanguard Group Inc. raised its stake in Evolent Health by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,713,530 shares of the technology company’s stock worth $162,264,000 after purchasing an additional 439,172 shares in the last quarter. BlackRock Inc. raised its stake in Evolent Health by 2.1% in the 4th quarter. BlackRock Inc. now owns 4,668,237 shares of the technology company’s stock worth $93,130,000 after purchasing an additional 96,466 shares in the last quarter. Finally, Riverbridge Partners LLC raised its stake in Evolent Health by 10.8% in the 4th quarter. Riverbridge Partners LLC now owns 3,801,449 shares of the technology company’s stock worth $75,839,000 after purchasing an additional 369,940 shares in the last quarter.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

Recommended Story: What is the QQQ ETF?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Evolent Health (NYSE:EVH)

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.