JPMorgan Chase & Co. Issues Pessimistic Forecast for Evolent Health (NYSE:EVH) Stock Price

Evolent Health (NYSE:EVH - Get Free Report) had its price target dropped by JPMorgan Chase & Co. from $15.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 24.00% from the stock's previous close.

EVH has been the topic of several other research reports. UBS Group cut their price objective on Evolent Health from $27.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Truist Financial cut their price target on shares of Evolent Health from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Stephens dropped their price objective on shares of Evolent Health from $16.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, January 21st. BTIG Research reduced their target price on shares of Evolent Health from $36.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, December 3rd. Finally, Needham & Company LLC initiated coverage on shares of Evolent Health in a research note on Friday, January 10th. They issued a "buy" rating and a $15.00 price target for the company. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Evolent Health presently has an average rating of "Buy" and a consensus price target of $18.38.

Evolent Health Trading Down 0.9 %

NYSE EVH traded down $0.10 during trading hours on Tuesday, reaching $10.48. The company had a trading volume of 1,209,501 shares, compared to its average volume of 2,252,435. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.22 billion, a P/E ratio of -11.52 and a beta of 1.45. The stock has a 50-day moving average of $11.34 and a 200 day moving average of $20.13. Evolent Health has a 1-year low of $9.74 and a 1-year high of $35.00.

Evolent Health (NYSE:EVH - Get Free Report) last issued 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). Evolent Health had a positive return on equity of 6.30% and a negative net margin of 2.93%. The company had revenue of $621.40 million during the quarter, compared to analyst estimates of $625.58 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. As a group, research analysts anticipate that Evolent Health will post 0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd lifted its position in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock valued at $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock valued at $45,000 after purchasing an additional 1,556 shares during the last quarter. Quarry LP acquired a new stake in shares of Evolent Health in the 2nd quarter valued at about $32,000. R Squared Ltd purchased a new position in Evolent Health during the 4th quarter worth approximately $31,000. Finally, AlphaCentric Advisors LLC acquired a new position in Evolent Health during the fourth quarter worth approximately $61,000.

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.