JPMorgan Chase & Co. Increases Evolent Health (NYSE:EVH) Price Target to $11.00

Evolent Health (NYSE:EVH) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $8.00 to $11.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 75.72% from the company’s current price.

EVH has been the topic of several other reports. ValuEngine downgraded shares of Evolent Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 2nd. Goldman Sachs Group downgraded shares of Evolent Health from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $13.00 to $8.00 in a report on Friday, June 5th. Zacks Investment Research downgraded shares of Evolent Health from a “buy” rating to a “hold” rating in a report on Thursday, May 28th. SunTrust Banks increased their price target on shares of Evolent Health from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $17.00 price target on shares of Evolent Health in a report on Monday, June 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $12.85.

EVH traded down $0.45 during trading on Friday, hitting $6.26. 127,728 shares of the company traded hands, compared to its average volume of 2,429,852. The firm has a market cap of $563.29 million, a P/E ratio of -1.60 and a beta of 1.70. The stock’s fifty day moving average is $7.04 and its 200 day moving average is $7.95. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.42. Evolent Health has a one year low of $3.50 and a one year high of $12.01.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). The company had revenue of $247.29 million for the quarter, compared to the consensus estimate of $239.35 million. Evolent Health had a negative net margin of 37.17% and a negative return on equity of 6.09%. On average, equities research analysts forecast that Evolent Health will post -0.65 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp grew its position in Evolent Health by 19.6% during the first quarter. State Street Corp now owns 1,783,872 shares of the technology company’s stock valued at $9,686,000 after acquiring an additional 292,880 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Evolent Health by 29.5% in the first quarter. Royal Bank of Canada now owns 102,653 shares of the technology company’s stock worth $558,000 after purchasing an additional 23,366 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Evolent Health by 142.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 16,754 shares of the technology company’s stock worth $91,000 after purchasing an additional 9,850 shares during the last quarter. FDx Advisors Inc. bought a new position in shares of Evolent Health in the first quarter worth approximately $97,000. Finally, HighTower Advisors LLC grew its holdings in shares of Evolent Health by 97.3% in the first quarter. HighTower Advisors LLC now owns 21,401 shares of the technology company’s stock worth $102,000 after purchasing an additional 10,555 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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