Evolent Health (NYSE:EVH) Stock Price Up 7.9% – Should You Buy?

Evolent Health, Inc (NYSE:EVH)’s share price rose 7.9% on Monday . The stock traded as high as $4.42 and last traded at $4.5550. Approximately 251,543 shares were traded during trading, a decline of 92% from the average daily volume of 2,976,243 shares. The stock had previously closed at $4.22.

Analyst Upgrades and Downgrades

EVH has been the topic of several analyst reports. Oppenheimer dropped their price target on shares of Evolent Health from $12.00 to $6.00 and set an “outperform” rating on the stock in a research note on Monday, March 2nd. Royal Bank Of Canada decreased their price objective on shares of Evolent Health from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Truist Financial decreased their price objective on shares of Evolent Health from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Evolent Health from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Canaccord Genuity Group raised their price objective on shares of Evolent Health from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Evolent Health has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Evolent Health Stock Up 1.4%

The stock has a market capitalization of $531.58 million, a P/E ratio of -0.99 and a beta of 0.84. The company’s 50-day moving average price is $3.44 and its 200 day moving average price is $3.47. 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 (NYSE:EVH) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $496.25 million for the quarter, compared to the consensus estimate of $534.00 million. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. As a group, equities analysts expect that Evolent Health, Inc will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Evolent Health

Several institutional investors have recently bought and sold shares of EVH. Durable Capital Partners LP purchased a new position in Evolent Health during the second quarter valued at $72,326,000. Rubicon Founders LLC purchased a new position in Evolent Health during the third quarter valued at $49,204,000. 8 Knots Management LLC purchased a new position in Evolent Health during the second quarter valued at $32,802,000. Eventide Asset Management LLC grew its stake in Evolent Health by 54.0% during the third quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock valued at $53,246,000 after acquiring an additional 2,205,659 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in 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 acquiring an additional 1,754,520 shares in the last quarter.

Evolent Health Company Profile

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.