Canaccord Genuity Group Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH) had its price objective decreased by investment analysts at Canaccord Genuity Group from $23.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 60.08% from the company’s previous close.

Other analysts have also recently issued reports about the company. Royal Bank of Canada decreased their price objective on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Stephens decreased their price target on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday. BTIG Research dropped their price objective on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, December 3rd. UBS Group reduced their target price on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Barclays dropped their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $19.31.

Evolent Health Stock Performance

Shares of EVH opened at $10.00 on Thursday. The company’s 50 day simple moving average is $11.55 and its 200-day simple moving average is $20.51. The firm has a market cap of $1.17 billion, a PE ratio of -10.98 and a beta of 1.45. Evolent Health has a 12-month low of $9.74 and a 12-month high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.38). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The business had revenue of $621.40 million for the quarter, compared to analysts’ expectations of $625.58 million. During the same period in the previous year, the business posted $0.19 earnings per share. As a group, equities analysts predict that Evolent Health will post 0.26 EPS for the current year.

Hedge Funds Weigh In On Evolent Health

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Evolent Health by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after buying an additional 121,770 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Evolent Health in the 2nd quarter valued at about $61,000. Marshall Wace LLP purchased a new position in Evolent Health during the 2nd quarter valued at about $1,231,000. Point72 DIFC Ltd purchased a new position in Evolent Health during the 2nd quarter valued at about $148,000. Finally, Squarepoint Ops LLC acquired a new position in Evolent Health during the second quarter worth about $439,000.

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.