Evolent Health FY2024 EPS Forecast Boosted by William Blair

Evolent Health, Inc. (NYSE:EVH) – Investment analysts at William Blair boosted their FY2024 earnings estimates for shares of Evolent Health in a research report issued to clients and investors on Monday, January 13th. William Blair analyst R. Daniels now forecasts that the technology company will post earnings of $0.23 per share for the year, up from their previous forecast of $0.19. The consensus estimate for Evolent Health’s current full-year earnings is $0.24 per share. William Blair also issued estimates for Evolent Health’s Q4 2024 earnings at ($0.05) EPS and FY2025 earnings at $0.48 EPS.

A number of other brokerages have also issued reports on EVH. Truist Financial reduced their target price on shares of Evolent Health from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday. Barclays decreased their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. JMP Securities cut their price target on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating on the stock in a research note on Friday, January 10th. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Finally, Citigroup lowered their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.58.

Evolent Health Stock Performance

Evolent Health stock opened at $10.01 on Thursday. Evolent Health has a 52-week low of $9.93 and a 52-week high of $35.00. The firm has a market capitalization of $1.17 billion, a P/E ratio of -11.00 and a beta of 1.45. The stock has a fifty day moving average price of $12.44 and a two-hundred day moving average price of $20.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Hedge Funds Weigh In On Evolent Health

A number of hedge funds and other institutional investors have recently modified their holdings of EVH. Covestor Ltd lifted its stake in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after acquiring an additional 1,556 shares during the period. Quarry LP bought a new position in Evolent Health in the 2nd quarter valued at $32,000. Canada Pension Plan Investment Board purchased a new position in Evolent Health during the second quarter worth about $61,000. Finally, Quest Partners LLC purchased a new position in shares of Evolent Health during the second quarter worth about $87,000.

Evolent Health Company Profile

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.