Evolent Health (NYSE:EVH) Earns Buy Rating from Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Evolent Health (NYSE:EVH - Free Report) in a research report report published on Friday, Marketbeat reports. The brokerage issued a buy rating and a $15.00 price objective on the technology company's stock.

EVH has been the topic of several other research reports. Barclays dropped their price objective 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. BTIG Research dropped their target price on Evolent Health from $36.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday, December 3rd. Oppenheimer reduced their price target on Evolent Health from $34.00 to $28.00 and set an "outperform" rating for the company in a report on Monday, November 18th. JPMorgan Chase & Co. cut their price objective on shares of Evolent Health from $45.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, November 22nd. Finally, KeyCorp assumed coverage on shares of Evolent Health in a research report on Friday, October 11th. They issued an "overweight" rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Evolent Health currently has a consensus rating of "Buy" and an average target price of $23.92.

Evolent Health Stock Down 0.2 %

NYSE EVH traded down $0.03 during trading on Friday, reaching $12.57. 2,124,449 shares of the company's stock were exchanged, compared to its average volume of 1,578,058. 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 fifty-two week low of $10.53 and a fifty-two week high of $35.00. The company's fifty day simple moving average is $13.13 and its 200-day simple moving average is $21.09. The firm has a market capitalization of $1.47 billion, a PE ratio of -13.81 and a beta of 1.45.

Institutional Investors Weigh In On Evolent Health

Institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in Evolent Health by 3.2% in the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company's stock worth $298,000 after purchasing an additional 480 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Evolent Health by 2.3% in the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company's stock valued at $556,000 after buying an additional 649 shares in the last quarter. Covestor Ltd raised its holdings in shares of 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 buying an additional 826 shares during the last quarter. GAMMA Investing LLC lifted its position in Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock worth $45,000 after buying an additional 1,556 shares in the last quarter. Finally, Quarry LP bought a new stake in Evolent Health during the 2nd quarter worth about $32,000.

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.