Evolent Health (NYSE:EVH) Given New $11.00 Price Target at Citizens Jmp

Evolent Health (NYSE:EVH) had its target price lowered by stock analysts at Citizens Jmp from $13.00 to $11.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market outperform” rating on the technology company’s stock. Citizens Jmp’s target price would suggest a potential upside of 121.55% from the company’s previous close.

EVH has been the topic of several other reports. Piper Sandler upped their target price on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Zacks Research lowered Evolent Health from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. BTIG Research dropped their price objective on Evolent Health from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Friday. Stephens reaffirmed an “equal weight” rating and set a $9.00 price objective on shares of Evolent Health in a report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Evolent Health in a report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Evolent Health has an average rating of “Moderate Buy” and a consensus target price of $15.21.

Evolent Health Price Performance

Evolent Health stock opened at $4.97 on Monday. The company has a market cap of $583.43 million, a P/E ratio of -3.08 and a beta of 0.58. Evolent Health has a one year low of $4.92 and a one year high of $15.56. The business has a fifty day moving average of $8.16 and a two-hundred day moving average of $9.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. The business had revenue of $427.70 million for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. As a group, analysts predict that Evolent Health will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Several hedge funds have recently bought and sold shares of the stock. Durable Capital Partners LP acquired a new position in shares of Evolent Health in the second quarter worth $72,326,000. 8 Knots Management LLC purchased a new stake in Evolent Health during the 2nd quarter worth about $32,802,000. Goldman Sachs Group Inc. raised its stake in Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after purchasing an additional 1,754,520 shares during the last quarter. Eventide Asset Management LLC raised its stake in Evolent Health by 33.5% in the 1st quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company’s stock valued at $57,555,000 after purchasing an additional 1,524,885 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new position in Evolent Health in the 2nd quarter valued at about $15,680,000.

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.