Evolent Health (NYSE:EVH) Given New $16.00 Price Target at Canaccord Genuity Group

Evolent Health (NYSE:EVHGet Free Report) had its price target decreased by stock analysts at Canaccord Genuity Group from $23.00 to $16.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 58.34% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. Stephens decreased their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday. UBS Group dropped their target price on Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Needham & Company LLC began coverage on Evolent Health in a report on Friday, January 10th. They set a “buy” rating and a $15.00 price target for the company. Finally, Oppenheimer lowered their price objective on Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, November 18th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $18.54.

Get Our Latest Stock Report on Evolent Health

Evolent Health Stock Performance

Shares of EVH stock opened at $10.11 on Thursday. The firm has a 50 day moving average of $11.45 and a two-hundred day moving average of $20.38. The stock has a market capitalization of $1.18 billion, a PE ratio of -11.10 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health has a 52 week low of $9.74 and a 52 week high of $35.00.

Evolent Health (NYSE:EVHGet Free Report) last released its earnings results on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.38). The company had revenue of $621.40 million for the quarter, compared to analyst estimates of $625.58 million. Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. During the same period in the previous year, the firm earned $0.19 earnings per share. On average, research analysts predict that Evolent Health will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Evolent Health by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after purchasing an additional 121,770 shares during the period. Canada Pension Plan Investment Board acquired a new position in Evolent Health in the 2nd quarter valued at $61,000. Marshall Wace LLP acquired a new position in Evolent Health in the 2nd quarter valued at $1,231,000. Point72 DIFC Ltd purchased a new position in Evolent Health during the 2nd quarter worth $148,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Evolent Health in the 2nd quarter worth $439,000.

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.

See Also

Analyst Recommendations for Evolent Health (NYSE:EVH)

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.