Evolent Health, Inc. (NYSE:EVH) is one of the worst performers on the stock market today. At current price of $10.45, the shares have already lost -0.16 points (-1.51% lower) from its previous close of $10.61. Should you buy or avoid them? The stock sets an active trading volume day with a reported 763089 contracts so far this session. EVH shares had a relatively better volume day versus average trading capacity of 1.82 million shares, but with a 82.89 million float and a 11.22% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for EVH stock indicates that the average analyst price target is $13.65 per share. This means the stock has a potential increase of 30.62% from where the EVH share price has been trading recently.
During the recent trading session for Evolent Health, Inc. (NYSE:EVH), the company witnessed their stock rise $0.68 over a week and surge $3.02 from the price 20 days ago. When compared to their established 52-week high of $19.13, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/18/19. The recent low of $5.5 stood for a -45.37% since 07/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.12 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Evolent Health, Inc., the two-week RSI stands at 64.52. This figure suggests that EVH stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current EVH readings is similarly very revealing as it has a stochastic reading of 91.66% at this stage. This figure means that EVH share price today is being oversold.
Technical chart claims that Evolent Health, Inc. (EVH) would settle between $10.84/share to $11.06/share level. However, if the stock price goes below the $10.28 mark, then the market for Evolent Health, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $9.94 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.63. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Leerink Partners, assumed coverage of EVH assigning Outperform rating, according to their opinion released on October 05. Piper Jaffray, analysts launched coverage of Evolent Health, Inc. (NYSE:EVH) stock with a Overweight recommendation, according to their flash note issued to investors on June 04. Analysts at JP Morgan, made their first call for the equity with a Neutral recommendation, according to a research note that dated back to April 24.
EVH equity has an average rating of 1.53, with the figure leaning towards a bullish end. 11 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Evolent Health, Inc. (NYSE:EVH) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, EVH stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 87.3. Evolent Health, Inc. current P/B ratio of 0.8 means it is trading at a discount against its industry’s 5.8.
Evolent Health, Inc. (EVH)’s current-quarter revenues are projected to climb by nearly 20.5% to hit $232990, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 33.5% from $632420 to a noteworthy $844510. At the other end of the current quarter income statement, Evolent Health, Inc. is expected to see its adjusted earnings surge by roughly 42.9% to hit $-0.04 per share. For the fiscal year, EVH’s earnings are projected to climb by roughly -483.3% to hit $-0.7 per share.