Cantor Fitzgerald Assigns a Buy Rating on Evolent Health

Cantor Fitzgerald analyst Steven Halper assigned a Buy rating to Evolent Health (NYSE: EVH) today and set a price target of $30. The company’s shares opened today at $16.65, close to its 52-week low of $14.50.

According to TipRanks.com, Halper is a top 100 analyst with an average return of 20.3% and a 72.1% success rate. Halper covers the Services sector, focusing on stocks such as AmerisourceBergen Corporation, Walgreens Boots Alliance, and WellCare Health Plans.

Currently, the analyst consensus on Evolent Health is Strong Buy and the average price target is $30.33, representing an 82.2% upside.

In a report issued on September 19, KeyBanc also initiated coverage with a Buy rating on the stock with a $23 price target.

Based on Evolent Health’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $107 million and GAAP net loss of $16.91 million. In comparison, last year the company earned revenue of $56.52 million and had a GAAP net loss of $8.39 million.

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Evolent Health, Inc. engages in the provision of health system solutions. It includes consulting, population health technology and clinical and operational capabilities. The company was founded by Frank Williams, Seth Blackley, and Tom Peterson in August 2011 and is headquartered in Arlington, VA.

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