Citigroup Cuts Evolent Health (NYSE:EVH) Price Target to $4.00

Evolent Health (NYSE:EVH) had its target price trimmed by Citigroup from $6.00 to $4.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. Oppenheimer cut their price objective on shares of Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. BTIG Research decreased their price objective on Evolent Health from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial decreased their target price on Evolent Health from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday. Canaccord Genuity Group lowered their target price on shares of Evolent Health from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Finally, Citizens Jmp decreased their price target on shares of Evolent Health from $11.00 to $10.00 and set a “market outperform” rating for the company in a report on Tuesday, January 6th. Twelve analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

Evolent Health Stock Down 2.0%

Shares of NYSE:EVH opened at $3.26 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.25. The firm has a market cap of $363.26 million, a P/E ratio of -0.63 and a beta of 0.27. Evolent Health has a 12 month low of $2.50 and a 12 month high of $12.06. The company’s 50-day moving average price is $3.49 and its two-hundred day moving average price is $5.77.

Evolent Health (NYSE:EVH) last announced its earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.30%. The company had revenue of $468.72 million for the quarter, compared to analyst estimates of $468.48 million. During the same period in the prior year, the business earned ($0.02) earnings per share. Evolent Health’s quarterly revenue was down 27.5% on a year-over-year basis. As a group, research analysts forecast that Evolent Health will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its position in shares of Evolent Health by 88.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock worth $29,000 after purchasing an additional 1,194 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after acquiring an additional 4,000 shares in the last quarter. Strs Ohio acquired a new position in Evolent Health during the first quarter valued at approximately $47,000. Headlands Technologies LLC bought a new position in Evolent Health in the second quarter valued at approximately $58,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health in the third quarter valued at approximately $51,000.

Key Stories 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

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.