Evolent Health’s (EVH) “Buy” Rating Reiterated at Cantor Fitzgerald
Evolent Health, Inc (NYSE:EVH)‘s stock had its “buy” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Thursday. They presently have a $30.00 price target on the technology company’s stock.
The analysts wrote, “3Q17 results. Adjusted 3Q17 revenue of $108.4 million (+80% y/y) came in ahead of FactSet consensus and our estimate of $104 million. The number of lives on the platform was 2.7 million (-4% q/q, +84.7% y/y). The sequential decline was related to churn in Medicaid. Adjusted transformation revenue of $8.2 million increased 6% y/y. Transformation revenue can fluctuate quarter- to-quarter due to the timing of customer contracts and the scope of delivery. Adjusted platform and operations revenue of $100.2 million increased 91% y/ y driven by an increase in the number of lives on the platform. Average PMPM was $12.20 in 3Q17. EVH achieved positive adjusted EBITDA in the quarter.””
A number of other equities research analysts have also issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and set a $28.00 target price on shares of Evolent Health in a research note on Wednesday, September 6th. SunTrust Banks, Inc. reissued a “buy” rating and set a $30.00 target price on shares of Evolent Health in a research note on Wednesday, September 20th. BidaskClub lowered shares of Evolent Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Evolent Health from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Finally, KeyCorp started coverage on shares of Evolent Health in a research note on Tuesday, September 19th. They set an “overweight” rating and a $23.00 target price for the company. Two research analysts have rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $28.70.
Evolent Health (NYSE:EVH) last issued its earnings results on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). The company had revenue of $107.30 million during the quarter, compared to analyst estimates of $104.45 million. Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The company’s revenue for the quarter was up 89.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS.
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A number of institutional investors and hedge funds have recently made changes to their positions in EVH. Parametric Portfolio Associates LLC bought a new position in Evolent Health in the 1st quarter worth $213,000. American International Group Inc. raised its holdings in Evolent Health by 7.5% in the 1st quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock worth $210,000 after acquiring an additional 653 shares during the period. Vanguard Group Inc. raised its holdings in Evolent Health by 18.1% in the 1st quarter. Vanguard Group Inc. now owns 2,531,928 shares of the technology company’s stock worth $56,462,000 after acquiring an additional 388,668 shares during the period. Geode Capital Management LLC raised its holdings in Evolent Health by 3.1% in the 1st quarter. Geode Capital Management LLC now owns 130,053 shares of the technology company’s stock worth $2,900,000 after acquiring an additional 3,889 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Evolent Health by 119.7% in the 1st quarter. Renaissance Technologies LLC now owns 90,300 shares of the technology company’s stock worth $2,014,000 after acquiring an additional 49,200 shares during the period. Hedge funds and other institutional investors own 89.64% of the company’s stock.
About Evolent Health
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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