Evolent Health (NYSE:EVH) Given New $6.00 Price Target at Needham & Company LLC

Evolent Health (NYSE:EVH) had its target price hoisted by Needham & Company LLC from $5.00 to $6.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also weighed in on EVH. TD Cowen increased their price objective on Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Citigroup upgraded shares of Evolent Health from a “neutral” rating to a “buy” rating and lowered their price target for the company from $6.75 to $6.00 in a report on Monday, August 10th. Truist Financial dropped their price target on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. Canaccord Genuity Group cut their price target on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Tuesday, August 18th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.04.

Evolent Health Trading Down 4.7%

NYSE EVH opened at $4.58 on Thursday. Evolent Health has a 1-year low of $2.10 and a 1-year high of $6.34. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.52. The stock has a 50-day moving average of $4.17 and a 200-day moving average of $3.88. The firm has a market cap of $517.25 million, a PE ratio of -1.00 and a beta of 1.03.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, November 5th. The technology company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%. The business had revenue of $725.37 million for the quarter, compared to analyst estimates of $727.06 million. During the same period last year, the company earned $0.05 EPS. Evolent Health’s revenue for the quarter was up 51.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Evolent Health will post -0.25 EPS for the current year.

Insider Buying and Selling at Evolent Health

In other news, President Daniel Mccarthy sold 65,892 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $5.00, for a total transaction of $329,460.00. Following the transaction, the president directly owned 655,133 shares of the company’s stock, valued at approximately $3,275,665. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.48% of the company’s stock.

Institutional Trading of Evolent Health

Several large investors have recently added to or reduced their stakes in EVH. Maverick Capital Ltd. increased its position in shares of Evolent Health by 1.3% during the first quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock valued at $5,866,000 after buying an additional 32,833 shares during the period. Congress Asset Management Co. raised its stake in Evolent Health by 20.3% in the third quarter. Congress Asset Management Co. now owns 275,158 shares of the technology company’s stock worth $960,000 after buying an additional 46,466 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Evolent Health in the second quarter worth about $760,000. Sei Investments Co. lifted its holdings in Evolent Health by 50.8% in the first quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock worth $689,000 after buying an additional 101,867 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Evolent Health in the first quarter worth about $488,000.

More Evolent Health News

Here are the key news stories impacting Evolent Health this week:

• Positive Sentiment: Needham raised its price target to $6 from $5 and maintained a Buy rating, implying about 31% upside from the cited $4.58 share price. Needham rating
• Positive Sentiment: Management forecast 2026 revenue of $2.6 billion to $2.7 billion, a range whose midpoint is above the cited $2.6 billion analyst consensus. The company also said health-plan customers are renewing agreements and, in many cases, expanding their work with Evolent. Third-quarter results
• Neutral Sentiment: Adjusted earnings of $0.06 per share matched estimates and rose from $0.05 a year earlier. Revenue increased 51.3% year over year to $725.37 million, though it was slightly below the $727.06 million consensus. Q3 earnings report
• Negative Sentiment: The slight revenue miss and earnings that merely met expectations may have limited the market’s response to the strong growth and guidance. The company also reported a negative net margin, highlighting continued profitability challenges.

About Evolent Health

Evolent Health, Inc (NYSE: EVH) is a healthcare services and technology company that helps health plans and healthcare providers transition to value-based care. Its platform is designed to support the management of clinical programs, improve patient outcomes and coordinate care while helping customers manage healthcare costs.

The company provides specialty and total-cost-of-care solutions across areas such as cardiology, oncology, musculoskeletal care, radiology and other complex conditions.