Citigroup Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price dropped by equities researchers at Citigroup from $11.50 to $9.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 130.30% from the company’s current price.

Several other research analysts have also recently issued reports on EVH. Piper Sandler raised their target price on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Truist Financial lowered their target price on shares of Evolent Health from $16.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research note on Wednesday. Stephens raised Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Evolent Health currently has a consensus rating of “Moderate Buy” and an average target price of $11.89.

Evolent Health Price Performance

Shares of NYSE:EVH traded up $0.44 during trading on Friday, reaching $4.13. The company had a trading volume of 4,773,584 shares, compared to its average volume of 2,919,188. The company has a fifty day moving average of $7.20 and a two-hundred day moving average of $8.71. Evolent Health has a 12 month low of $3.49 and a 12 month high of $13.61. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $460.35 million, a P/E ratio of -2.56 and a beta of 0.58.

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

Insider Buying and Selling at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average price of $3.82 per share, with a total value of $38,200.00. Following the acquisition, the director owned 58,821 shares in the company, valued at approximately $224,696.22. The trade was a 20.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Evolent Health

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