Citigroup Has Lowered Expectations for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its target price decreased by research analysts at Citigroup from $11.50 to $9.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective would indicate a potential upside of 129.47% from the stock’s current price.

Several other research firms also recently issued reports on EVH. Oppenheimer dropped their target price on Evolent Health from $18.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Zacks Research upgraded Evolent Health from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. BTIG Research lowered their price target on shares of Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 7th. BMO Capital Markets assumed coverage on shares of Evolent Health in a research note on Thursday, November 13th. They set an “outperform” rating and a $7.00 price objective for the company. Finally, Piper Sandler increased their target price on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Fourteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.89.

Evolent Health Stock Performance

NYSE EVH opened at $4.14 on Friday. The company has a market capitalization of $462.03 million, a PE ratio of -2.57 and a beta of 0.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01. Evolent Health has a 52-week low of $3.49 and a 52-week high of $13.61. The company has a 50-day simple moving average of $7.10 and a 200 day simple moving average of $8.65.

Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The firm had revenue of $427.70 million during the quarter. On average, research analysts predict that Evolent Health will post 0.08 EPS for the current year.

Insider Buying and Selling

In other news, Director Brendan B. Springstubb acquired 10,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were acquired at an average cost of $3.82 per share, with a total value of $38,200.00. Following the transaction, the director owned 58,821 shares in the company, valued at $224,696.22. The trade was a 20.48% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Institutional Trading of Evolent Health

Hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new stake in shares of Evolent Health in the 1st quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its stake 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 valued at $29,000 after purchasing an additional 1,194 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Evolent Health by 82.6% in the second quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,577 shares during the last quarter. Strs Ohio bought a new position in shares of Evolent Health during the first quarter valued at $47,000. Finally, US Bancorp DE increased its holdings in Evolent Health by 291.0% in the 1st quarter. US Bancorp DE now owns 5,153 shares of the technology company’s stock worth $49,000 after buying an additional 3,835 shares in the last quarter.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.