Evolent Health, Inc (EVH) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Evolent Health, Inc (NYSE:EVH) announced its quarterly earnings results on Thursday. The technology company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.04, Bloomberg Earnings reports. Evolent Health had a negative return on equity of 5.27% and a negative net margin of 15.86%. The business had revenue of $107.90 million for the quarter, compared to analyst estimates of $104.49 million. During the same quarter in the previous year, the firm earned ($0.26) EPS. Evolent Health’s quarterly revenue was up 79.2% on a year-over-year basis.
Evolent Health (NYSE:EVH) traded down $2.05 during mid-day trading on Friday, hitting $13.25. The stock had a trading volume of 6,276,417 shares, compared to its average volume of 1,135,937.
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EVH has been the subject of several research analyst reports. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Evolent Health in a research report on Wednesday, September 6th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $30.00 price objective on shares of Evolent Health in a research report on Wednesday, September 20th. BidaskClub downgraded Evolent Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded Evolent Health from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Finally, KeyCorp initiated coverage on Evolent Health in a research report on Tuesday, September 19th. They issued an “overweight” rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Evolent Health has a consensus rating of “Buy” and an average price target of $28.70.
Evolent Health Company Profile
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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