Evolent Health (NYSE:EVH) Given New $7.00 Price Target at Truist Financial

Evolent Health (NYSE:EVH) had its target price increased by Truist Financial from $6.00 to $7.00 in a report issued on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Evolent Health from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Citigroup lifted their target price on shares of Evolent Health from $4.00 to $5.50 and gave the stock a “buy” rating in a research report on Friday, May 15th. Royal Bank Of Canada cut their target price on shares of Evolent Health from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Finally, UBS Group cut their target price on shares of Evolent Health from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Thirteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.08.

Evolent Health Price Performance

Shares of EVH opened at $4.79 on Friday. The firm has a market capitalization of $538.22 million, a PE ratio of -1.01 and a beta of 0.84. The company’s 50-day moving average is $3.59 and its 200-day moving average is $3.49. Evolent Health has a fifty-two week low of $2.10 and a fifty-two week high of $12.06. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.32 and a quick ratio of 1.32.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The company had revenue of $496.25 million for the quarter, compared to analyst estimates of $534.00 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Evolent Health will post -0.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC bought a new stake in Evolent Health in the fourth quarter valued at $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Evolent Health by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after buying an additional 3,572 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Evolent Health by 162.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after buying an additional 1,754,520 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Evolent Health during the 1st quarter valued at $252,000. Finally, Strs Ohio bought a new stake in shares of Evolent Health during the 1st quarter valued at $47,000.

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.