Cantor Fitzgerald analyst Steven Halper reiterated a Buy rating on Evolent Health (EVH) yesterday and set a price target of $20. The company’s shares closed yesterday at $14.67, close to its 52-week low of $13.61.
Halper commented:
“. We reiterate our Overweight rating on EVH shares but reduce our price target to $20 from $37. After the close on Tuesday, the company reported solid 4Q18 results with revenue above the Factset consensus estimate. Adjusted EBITDA was slightly below our estimate. 2019 revenue guidance now includes premium revenue from Connections (NMHC – private). NMHC was the former owner of the company’s True Health business. The company’s adjusted EBITDA guidance was well-below our estimate and consensus.”
According to TipRanks.com, Halper is a top 100 analyst with an average return of 19.9% and a 66.8% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.
Currently, the analyst consensus on Evolent Health is a Strong Buy with an average price target of $27, which is an 84.0% upside from current levels. In a report issued on February 19, Piper Jaffray also maintained a Buy rating on the stock.
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The company has a one-year high of $29.05 and a one-year low of $13.61. Currently, Evolent Health has an average volume of 1.21M.
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Evolent Health, Inc. engages in the provision of health care delivery and payment services. Its solutions include population health management, health plan administration and third party administration, network performance management, risk adjustment, pharmacy benefit management, analytics and performance improvement, and technology and electronic medical record integration. The company was founded by Frank J. Williams, Seth B. Blackley, and Tom Peterson in August 2011 and is headquartered in Arlington, VA.
