Evolent Health (NYSE:EVH) Stock Price Up 10% – Time to Buy?

Evolent Health, Inc (NYSE:EVH) shot up 10% on Thursday . The stock traded as high as $4.54 and last traded at $4.5850. Approximately 2,295,554 shares traded hands during trading, a decline of 25% from the average daily volume of 3,075,750 shares. The stock had previously closed at $4.17.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EVH. Citigroup raised Evolent Health from a “neutral” rating to a “buy” rating and lowered their target price for the company from $6.75 to $6.00 in a report on Monday. Needham & Company LLC increased their price objective on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday. TD Cowen decreased their target price on Evolent Health from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Finally, Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.96.

Evolent Health Trading Up 10.0%

The stock has a market cap of $515.73 million, a P/E ratio of -1.00 and a beta of 0.79. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day simple moving average is $4.76 and its 200 day simple moving average is $3.72.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The company had revenue of $484.50 million for the quarter, compared to analyst estimates of $597.70 million. During the same period in the prior year, the company posted ($0.10) EPS. The company’s revenue was up 46.9% compared to the same quarter last year. On average, analysts expect that Evolent Health, Inc will post -0.16 earnings per share for the current fiscal year.

Institutional Trading of Evolent Health

Large investors have recently bought and sold shares of the stock. Durable Capital Partners LP acquired a new stake in shares of Evolent Health during the second quarter worth approximately $72,326,000. Rubicon Founders LLC bought a new stake in Evolent Health during the 3rd quarter worth approximately $49,204,000. 8 Knots Management LLC acquired a new stake in Evolent Health during the 2nd quarter valued at $32,802,000. Goldman Sachs Group Inc. raised its position in Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after purchasing an additional 1,754,520 shares during the last quarter. Finally, Tejara Capital Ltd acquired a new position in Evolent Health in the fourth quarter worth $5,326,000.

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.