Evolent Health’s (EVH) “Neutral” Rating Reiterated at Citigroup

Evolent Health (NYSE:EVH)‘s stock had its “neutral” rating reiterated by equities research analysts at Citigroup in a report released on Thursday,Benzinga reports. They presently have a $6.75 price target on the technology company’s stock, up from their prior price target of $5.50. Citigroup’s target price would suggest a potential upside of 21.18% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Truist Financial downgraded Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research note on Tuesday, June 30th. Needham & Company LLC raised their price target on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings upgraded Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Finally, Canaccord Genuity Group upped their price objective on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Evolent Health presently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Evolent Health Stock Down 4.8%

Shares of NYSE:EVH opened at $5.57 on Thursday. The company’s fifty day moving average is $4.83 and its two-hundred day moving average is $3.75. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.32 and a current ratio of 1.32. Evolent Health has a 1-year low of $2.10 and a 1-year high of $10.35. The stock has a market capitalization of $626.52 million, a price-to-earnings ratio of -1.17 and a beta of 0.76.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The business had revenue of $496.25 million during the quarter, compared to analyst estimates of $534.00 million. During the same period in the previous year, the business posted $0.06 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Evolent Health will post -0.16 EPS for the current year.

Institutional Investors Weigh In On Evolent Health

Several large investors have recently made changes to their positions in the company. Durable Capital Partners LP acquired a new position in Evolent Health during the 2nd quarter worth $72,326,000. Rubicon Founders LLC acquired a new position in shares of Evolent Health during the third quarter valued at $49,204,000. 8 Knots Management LLC bought a new stake in shares of Evolent Health during the second quarter valued at about $32,802,000. Goldman Sachs Group Inc. raised its stake in shares of Evolent Health by 162.2% during the first 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 in the last quarter. Finally, Tejara Capital Ltd acquired a new stake in Evolent Health in the fourth quarter worth about $5,326,000.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.