Citigroup Reiterates “Sell” Rating for Evolent Health (NYSE:EVH)

Evolent Health (NYSE:EVH)‘s stock had its “sell” rating reiterated by equities researchers at Citigroup in a report issued on Thursday, MarketBeat reports. They presently have a $6.75 price objective on the technology company’s stock, up from their prior price objective of $5.50. Citigroup’s target price suggests a potential upside of 61.25% from the stock’s current price.

Several other research firms have also recently commented on EVH. Canaccord Genuity Group lifted their target price on Evolent Health from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings upgraded Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Needham & Company LLC lifted their price objective on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Truist Financial lowered Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Evolent Health Price Performance

NYSE EVH opened at $4.19 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46. The company has a fifty day simple moving average of $4.85 and a 200 day simple moving average of $3.76. The company has a market cap of $470.84 million, a P/E ratio of -0.88 and a beta of 0.76. Evolent Health has a 1 year low of $2.10 and a 1 year high of $10.30.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $496.25 million during the quarter, compared to analysts’ expectations of $534.00 million. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. On average, sell-side analysts predict that Evolent Health will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd acquired a new stake in shares of Evolent Health during the first quarter worth $26,000. CIBC Private Wealth Group LLC raised its position in shares of Evolent Health by 4,000.0% in the 3rd 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 bought a new stake in shares of Evolent Health during the 1st quarter valued at about $47,000. Vise Technologies Inc. acquired a new stake in Evolent Health during the fourth quarter worth approximately $50,000. Finally, Royal Bank of Canada increased its holdings in Evolent Health by 51.6% in the first quarter. Royal Bank of Canada now owns 25,161 shares of the technology company’s stock worth $57,000 after purchasing an additional 8,563 shares in the last quarter.

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.