FY2024 EPS Forecast for Evolent Health Lowered by Analyst

Evolent Health, Inc. (NYSE:EVH - Free Report) - Investment analysts at William Blair decreased their FY2024 earnings per share estimates for shares of Evolent Health in a report issued on Monday, January 27th. William Blair analyst R. Daniels now forecasts that the technology company will post earnings per share of $0.21 for the year, down from their previous estimate of $0.23. The consensus estimate for Evolent Health's current full-year earnings is $0.26 per share. William Blair also issued estimates for Evolent Health's FY2025 earnings at $0.01 EPS.

Other research analysts have also recently issued reports about the stock. Citigroup dropped their target price on shares of Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. KeyCorp started coverage on Evolent Health in a research note on Friday, October 11th. They issued an "overweight" rating and a $35.00 price objective on the stock. Needham & Company LLC assumed coverage on Evolent Health in a research report on Friday, January 10th. They issued a "buy" rating and a $15.00 target price for the company. Truist Financial dropped their price target on Evolent Health from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Finally, Barclays decreased their price objective on Evolent Health from $39.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Evolent Health currently has an average rating of "Buy" and a consensus target price of $18.38.

Evolent Health Stock Performance

Shares of NYSE:EVH traded up $0.16 during midday trading on Thursday, reaching $10.57. The company had a trading volume of 892,459 shares, compared to its average volume of 2,285,846. The stock has a market cap of $1.23 billion, a P/E ratio of -11.61 and a beta of 1.45. The company's 50 day moving average price is $11.36 and its 200 day moving average price is $20.19. 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 has a 52-week low of $9.74 and a 52-week high of $35.00.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.38). The firm had revenue of $621.40 million during the quarter, compared to analysts' expectations of $625.58 million. Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. During the same quarter last year, the business posted $0.19 EPS.

Hedge Funds Weigh In On Evolent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP bought a new stake in shares of Evolent Health during the 3rd quarter valued at about $7,070,000. Foundry Partners LLC purchased a new stake in Evolent Health in the third quarter valued at approximately $10,042,000. Salem Investment Counselors Inc. raised its stake in Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company's stock valued at $3,939,000 after purchasing an additional 121,369 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Evolent Health by 140.0% during the third quarter. Harbor Capital Advisors Inc. now owns 422,421 shares of the technology company's stock valued at $11,946,000 after purchasing an additional 246,400 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock worth $1,469,000 after buying an additional 8,552 shares during the last quarter.

About Evolent Health

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.