Evolent Health (NYSE:EVH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Evolent Health (NYSE:EVH) had its price target boosted by research analysts at JPMorgan Chase & Co. from $5.00 to $6.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 32.89% from the company’s current price.

EVH has been the subject of several other research reports. Needham & Company LLC raised their price objective on shares of 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 reduced their target price on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Truist Financial decreased their price target on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th. TD Cowen raised their price target on shares of Evolent Health from $5.00 to $6.00 and gave the company a “buy” rating in a report on Monday. Finally, Citigroup raised Evolent Health from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $6.75 to $6.00 in a report on Monday, August 10th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.96.

Evolent Health Price Performance

Shares of EVH traded up $0.10 during trading hours on Tuesday, hitting $4.51. The stock had a trading volume of 326,934 shares, compared to its average volume of 3,066,149. The stock has a market capitalization of $510.47 million, a price-to-earnings ratio of -0.99 and a beta of 0.80. 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 company’s fifty day moving average is $4.77 and its two-hundred day moving average is $3.74. Evolent Health has a 52 week low of $2.10 and a 52 week high of $10.08.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, topping 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 business had revenue of $484.50 million for the quarter, compared to the consensus estimate of $597.70 million. During the same period in the previous year, the business earned ($0.10) EPS. Evolent Health’s revenue was up 46.9% compared to the same quarter last year. On average, analysts anticipate that Evolent Health will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Evolent Health in the 1st quarter valued at about $26,000. CIBC Private Wealth Group LLC lifted its holdings in Evolent Health by 4,000.0% in the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after buying an additional 4,000 shares during the period. Strs Ohio acquired a new position in Evolent Health in the first quarter valued at approximately $47,000. Vise Technologies Inc. acquired a new position in Evolent Health in the fourth quarter valued at approximately $50,000. Finally, Royal Bank of Canada boosted its stake in Evolent Health by 51.6% in the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock valued at $57,000 after acquiring an additional 8,563 shares during the last quarter.

About Evolent Health

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.