In a report released yesterday, Jamie Stockton from Wells Fargo maintained a Buy rating on Evolent Health (EVH). The company’s shares opened today at $6.69, close to its 52-week low of $5.50.
According to TipRanks.com, Stockton is a 3-star analyst with an average return of 2.6% and a 39.6% success rate. Stockton covers the Technology sector, focusing on stocks such as Change Healthcare Inc, Medidata Solutions, and Castlight Health.
Evolent Health has an analyst consensus of Strong Buy, with a price target consensus of $17, a 154.1% upside from current levels. In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $10 price target.
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Based on Evolent Health’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $46.74 million. In comparison, last year the company had a GAAP net loss of $9.92 million.
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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 firm operates through Services segment and True Health segment. The Services segment includes three types of services designed to help partners manage patient health; value-based care services, specialty care management services and comprehensive health plan administration services. The True Health segment, which operates a health plan in New Mexico, and provides reinsurance to NMHC, takes on certain insurance and underwriting costs in pricing its premiums. The company was founded by Frank J. Williams, Seth B. Blackley, and Tom Peterson in August 2011 and is headquartered in Arlington, VA.
