Truist Financial analyst Jailendra Singh maintains $Evolent Health (EVH.US)$ with a buy rating, and adjusts the target price from $33 to $24.
According to TipRanks data, the analyst has a success rate of 30.3% and a total average return of -16.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Evolent Health (EVH.US)$'s main analysts recently are as follows:
The reduction in the third-quarter performance of Evolent Health is noted as disheartening but not an isolated case given the prevailing risk climate. The essential business structure is still considered to be solid.
Evolent Health's Q3 EBITDA was significantly lower than consensus, influenced by a substantial rise in Oncology costs, witnessed both retrospectively and within the quarter. On a positive note, the company secured $200M in new run-rate business during Q3, underscoring the growing demand for specialty care management.
Evolent Health's third-quarter results were considered disappointing, with previous expectations indicating the company was positioned to recover a significant portion of higher costs via contractual rate increases. Despite this, prevailing sentiment among investors appears skeptical regarding the company's ability to achieve approximately $300M of EBITDA. Nonetheless, the prevailing opinion among analysts is that the recent developments are atypical, and there is confidence that Evolent's margins will stabilize as planned price adjustments are implemented.
Note:
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