Evolent Health (NYSE:EVH) Upgraded by Wall Street Zen to Hold Rating

Evolent Health (NYSE:EVH) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler set a $6.00 price target on Evolent Health in a research report on Tuesday, December 2nd. Canaccord Genuity Group reduced their price objective on Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. KeyCorp cut Evolent Health from an “overweight” rating to a “sector weight” rating in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a report on Monday, December 29th. Finally, BTIG Research reduced their price target on shares of Evolent Health from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.50.

Evolent Health Stock Performance

NYSE:EVH opened at $3.26 on Friday. The company has a market cap of $363.26 million, a P/E ratio of -0.63 and a beta of 0.27. The firm’s 50 day moving average is $3.49 and its two-hundred day moving average is $5.80. Evolent Health has a fifty-two week low of $2.50 and a fifty-two week high of $12.06. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.25.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $468.72 million during the quarter, compared to analysts’ expectations of $468.48 million. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.30%. The business’s quarterly revenue was down 27.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) EPS. Analysts expect that Evolent Health will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Evolent Health by 88.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after buying an additional 1,194 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Evolent Health by 10.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 27,242 shares of the technology company’s stock valued at $307,000 after acquiring an additional 2,666 shares during the last quarter. Cetera Trust Company N.A raised its position in shares of Evolent Health by 47.3% during the 2nd quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock valued at $110,000 after acquiring an additional 3,125 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Evolent Health by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 3,572 shares during the period. Finally, CIBC Private Wealth Group LLC boosted 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 worth $35,000 after purchasing an additional 4,000 shares during the period.

Key Headlines Impacting Evolent Health

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

• Positive Sentiment: BTIG set a new $8.00 price target for EVH, signaling confidence that the stock has upside from current levels. Evolent Health (NYSE:EVH) Given New $8.00 Price Target at BTIG Research
• Positive Sentiment: UBS lowered its target to $5.00 but kept a “buy” rating, implying upside (reported as ~54% above the then-current price). UBS lowers price target to $5.00
• Positive Sentiment: Citigroup cut its target to $4.00 but maintained a “buy” rating, which suggests analysts still see recovery potential despite near-term weakness. Citigroup lowers price target to $4.00
• Positive Sentiment: Seeking Alpha published a bullish-themed piece arguing EVH is “cheap, levered, but ready to rebound,” which can attract value-oriented buyers. Evolent Health: Cheap, Levered, But Ready To Rebound
• Neutral Sentiment: Evolent announced executive participation in upcoming investor conferences with live webcasts — useful for transparency but unlikely to move the stock materially on its own. Evolent to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Yahoo Finance ran a roundup noting a sharp intraday move earlier; such coverage increases attention/volatility but doesn’t change fundamentals. Evolent Health (EVH) Shares Skyrocket, What You Need To Know
• Neutral Sentiment: Royal Bank of Canada set a $3.00 target — a lower valuation point that may anchor some expectations but was published alongside other divergent targets. Evolent Health (NYSE:EVH) Given New $3.00 Price Target at Royal Bank Of Canada
• Neutral Sentiment: Needham published a $4.00 price target; another mid-range projection adding to the wide spread of analyst views. Evolent Health (NYSE:EVH) Given New $4.00 Price Target at Needham & Company LLC
• Negative Sentiment: KeyCorp lowered EVH to “Sector Weight” (a downgrade), which is a clear negative signal and likely contributed to selling pressure. Evolent Health (NYSE:EVH) Rating Lowered to “Sector Weight” at KeyCorp

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.