Evolent Health (NYSE:EVH) Price Target Cut to $9.00 by Analysts at Canaccord Genuity Group

by · The Markets Daily

Evolent Health (NYSE:EVH – Get Free Report) had its target price dropped by Canaccord Genuity Group from $16.00 to $9.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 116.61% from the company’s previous close.

Other analysts have also recently issued reports about the company. Citizens Jmp dropped their price target on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating for the company in a report on Monday. Truist Financial dropped their price target on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a research report on Monday. Oppenheimer cut their price objective on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday. Zacks Research upgraded Evolent Health from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler boosted their price target on Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Fourteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.86.

Check Out Our Latest Stock Report on EVH

Evolent Health Stock Down 0.1%

EVH traded down $0.01 during trading on Friday, reaching $4.16. 4,407,233 shares of the stock were exchanged, compared to its average volume of 2,837,048. The stock has a market cap of $488.25 million, a P/E ratio of -2.58 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $7.77 and its two-hundred day moving average price is $8.92. Evolent Health has a twelve month low of $4.01 and a twelve month high of $13.61.

Evolent Health (NYSE:EVH – Get Free Report) last released its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The company had revenue of $427.70 million for the quarter. Equities analysts expect that Evolent Health will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new position in Evolent Health in the first quarter valued at approximately $25,000. Nisa Investment Advisors LLC grew its stake in shares of Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after acquiring an additional 1,194 shares during the period. Parallel Advisors LLC increased its holdings in Evolent Health by 82.6% in the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after acquiring an additional 1,577 shares during the last quarter. Strs Ohio bought a new stake in Evolent Health in the 1st quarter valued at about $47,000. Finally, US Bancorp DE raised its position in shares of Evolent Health by 291.0% in the first quarter. US Bancorp DE now owns 5,153 shares of the technology company’s stock valued at $49,000 after purchasing an additional 3,835 shares during the period.

About Evolent Health

(Get Free Report)

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.

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