Evolent Health (EVH) Stock Overview
Through its subsidiary, provides specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 0/6 |
| Financial Health | 3/6 |
| Dividends | 0/6 |
Rewards
Risk Analysis
EVH Community Fair Values
Create NarrativeSee what 13 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Evolent Health, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$5.92 |
| 52 Week High | US$11.81 |
| 52 Week Low | US$2.10 |
| Beta | 0.76 |
| 1 Month Change | 23.33% |
| 3 Month Change | 135.86% |
| 1 Year Change | -47.89% |
| 3 Year Change | -80.19% |
| 5 Year Change | -72.54% |
| Change since IPO | -68.61% |
Recent News & Updates
Narrative Update • Jun 16
EVH: Rich P/E Assumptions Will Constrain Upside Despite Raised Price Objectives
Analysts have raised their price target on Evolent Health stock to $5.50 from $4.00, citing updated assessments of fair value, growth, margins, and future P/E assumptions. Analyst Commentary Recent research on Evolent Health frames the higher price targets within a mixed backdrop, where some analysts highlight potential upside while others emphasize execution and valuation risks.
Narrative Update • Jun 01
EVH: Higher Margin Outlook And 2026 Earnings Guidance Will Support Future Upside
Analysts have lifted their price target on Evolent Health to $5.50 from $4.00, citing updated assumptions that include higher projected revenue growth, a wider profit margin, and a lower future P/E multiple in their models. Analyst Commentary Bullish analysts have recently highlighted Evolent Health as a stock where revised assumptions on revenue, margins, and valuation multiples support a higher potential share price.
Narrative Update • May 18
EVH: Conservative Reserves And New Contracts Will Support Future Earnings Recovery
Analysts have lifted the consolidated price target on Evolent Health to $5.75 from $5.18, citing updated assumptions around revenue growth, profit margins and long term earnings power reflected in recent research moves from Citi, Canaccord and others. Analyst Commentary Recent research on Evolent Health shows a mix of optimism and caution as analysts recalibrate their expectations around earnings power, reserves and leverage.Recent updates
Narrative Update • Jun 16
EVH: Rich P/E Assumptions Will Constrain Upside Despite Raised Price Objectives
Analysts have raised their price target on Evolent Health stock to $5.50 from $4.00, citing updated assessments of fair value, growth, margins, and future P/E assumptions. Analyst Commentary Recent research on Evolent Health frames the higher price targets within a mixed backdrop, where some analysts highlight potential upside while others emphasize execution and valuation risks.Narrative Update • Jun 01
EVH: Higher Margin Outlook And 2026 Earnings Guidance Will Support Future Upside
Analysts have lifted their price target on Evolent Health to $5.50 from $4.00, citing updated assumptions that include higher projected revenue growth, a wider profit margin, and a lower future P/E multiple in their models. Analyst Commentary Bullish analysts have recently highlighted Evolent Health as a stock where revised assumptions on revenue, margins, and valuation multiples support a higher potential share price.Narrative Update • May 18
EVH: Conservative Reserves And New Contracts Will Support Future Earnings Recovery
Analysts have lifted the consolidated price target on Evolent Health to $5.75 from $5.18, citing updated assumptions around revenue growth, profit margins and long term earnings power reflected in recent research moves from Citi, Canaccord and others. Analyst Commentary Recent research on Evolent Health shows a mix of optimism and caution as analysts recalibrate their expectations around earnings power, reserves and leverage.Analysis Article • May 09
Evolent Health, Inc. (NYSE:EVH) Just Released Its First-Quarter Earnings: Here's What Analysts Think
It's been a pretty great week for Evolent Health, Inc. ( NYSE:EVH ) shareholders, with its shares surging 14% to...Narrative Update • May 03
EVH: Elevated Leverage And Conservative Reserves Will Pressure Post 2026 EBITDA Recovery
Analysts have reduced the consolidated price target range for Evolent Health into a tighter $4 to $8 band, reflecting updated earnings estimates, a more conservative reserve posture under the new CFO, and ongoing questions around medical cost trends and leverage. Analyst Commentary Recent Street research shows a clear reset in expectations around Evolent Health, with several firms cutting price targets and, in one case, lowering the rating.Narrative Update • Apr 18
EVH: Conservative Reserves And New Contracts Will Support Future Margin Recovery
Analysts have reduced Evolent Health price targets to a range of about $4 to $8, often roughly halving prior levels. They cite lower earnings estimates, a more conservative reserve posture, and limited near term visibility on margin and leverage recovery as key factors.Narrative Update • Apr 03
EVH: Conservative Reserves And New Contracts Will Shape Post 2026 EBITDA Recovery
Analysts have reduced their average price targets on Evolent Health to a range of about $4 to $8, reflecting more conservative margin and reserve assumptions, even as they cite potential longer term benefits from new business and higher transparency under the new CFO. Analyst Commentary Recent Street research on Evolent Health has tilted more cautious, with a series of price target cuts and one rating downgrade that emphasize execution risks, earnings visibility, and leverage concerns.Narrative Update • Mar 20
EVH: More Cautious Reserves And Leverage Will Shape Post 2026 EBITDA Outlook
Analysts have revised Evolent Health's fair value estimate to $3.00 from $6.00, citing lower price targets across the Street, slightly adjusted discount rate assumptions, updated revenue growth and margin expectations, and more conservative reserve and leverage views following recent guidance and Q4 results. Analyst Commentary Recent Street research around Evolent Health has become more conservative, with multiple bearish analysts cutting price targets and, in at least one case, downgrading the rating.Narrative Update • Mar 05
EVH: ACA Membership Stability And Conservative Reserves Will Support Margin Recovery
Analysts have cut their average price targets on Evolent Health by roughly half, now clustering in the $4 to $8 range, as they factor in more conservative reserve practices, adjusted margin expectations and updated multi-year EPS assumptions following recent earnings and guidance. Analyst Commentary Research updates around the latest quarter show a clear reset in expectations, with targets now concentrated in the mid single digits and a sharper focus on reserve practices, leverage and margin visibility.Seeking Alpha • Feb 26
Evolent Health: Cheap, Levered, But Ready To Rebound
Summary Evolent Health, Inc. is rated a Buy, with turnaround momentum and risk/reward now favoring upside after recent operational and strategic shifts. EVH's Performance Suite model now covers ~90% of revenue, offering risk protection and greater earnings predictability, despite near-term profit headwinds from new contract launches. Oncology drives EVH's growth, with strong customer retention (>98%) and cost discipline via AI automation and workforce efficiencies delivering $20M+ in annualized savings. EVH stock valuation remains deeply discounted at 0.19x trailing sales; if second-half EBITDA ramps and MER discipline holds, EPS growth could be substantial for aggressive investors. Read the full article on Seeking AlphaNarrative Update • Feb 19
EVH: Multi Year Margin Recovery Story Will Rely On ACA Membership Stability
Narrative Update The updated analyst price target for Evolent Health now sits at $8.50, down from $10.18, as analysts factor in slightly lower profit margin assumptions and a reduced future P/E multiple, even while keeping revenue growth expectations broadly similar. Analyst Commentary Recent Street research on Evolent Health points to a more cautious stance on valuation, with several firms trimming their price targets while keeping generally constructive views on the business model and long term opportunity set.Narrative Update • Feb 05
EVH: Future Contracts And Pipeline Are Expected To Support Margins Beyond 2025
Analysts have trimmed their fair value estimate for Evolent Health from US$16.00 to about US$14.31. This reflects reduced price targets across the Street as they factor in a tougher 2025 for health tech, more conservative margin assumptions around potential ACA and Medicare Advantage uncertainty, and an expectation that earnings could remain softer before later benefits from new contracts and AI initiatives are realized.Analysis Article • Jan 28
Take Care Before Diving Into The Deep End On Evolent Health, Inc. (NYSE:EVH)
You may think that with a price-to-sales (or "P/S") ratio of 0.2x Evolent Health, Inc. ( NYSE:EVH ) is definitely a...Narrative Update • Jan 22
EVH: Future Contracts And Pipeline Are Expected To Offset Membership Pressures
Analysts cut their fair value estimate for Evolent Health to about $16 from roughly $20, citing lower price targets across the Street, higher assumed risk, more conservative margin expectations, and a very large projected future P/E multiple, despite solid bookings and pipeline commentary. Analyst Commentary Bullish analysts are still highlighting pockets of upside for Evolent Health, even as they reset expectations and bring price targets lower.Narrative Update • Jan 07
EVH: Contract Pipeline And AI Initiatives Will Underpin Post 2026 EBITDA Upside
Analysts have trimmed their average price targets on Evolent Health by a few dollars to a range of roughly $7 to $12. This reflects more cautious margin assumptions and near term ACA and Medicare Advantage uncertainty, while still recognizing the company’s signed contracts, new business pipeline, and revenue growth outlook.Narrative Update • Dec 23
EVH: Expanding Pipeline And AI Initiatives Will Drive Post 2026 EBITDA Upside
Evolent Health's updated analyst price target has shifted lower to $7.00 from $12.00 as analysts balance a higher perceived risk profile and compressed fair value with confidence in the company’s expanding pipeline, long term EBITDA growth potential, and margin maturation beyond 2026. Analyst Commentary Recent Street research reflects a nuanced view of Evolent Health, with price targets moving lower even as ratings largely remain constructive.Narrative Update • Dec 09
EVH: Contract Wins And AI Initiatives Will Drive Future Margin Expansion
Analysts have modestly reduced their price expectations for Evolent Health, with the fair value estimate easing by about $0.86 per share as they factor in lower target multiples and a slightly softer growth outlook, while still expressing confidence in the company’s long term EBITDA and margin expansion potential. Analyst Commentary Analysts remain constructive on Evolent Health’s long term setup, highlighting a growing contract base and clearer visibility into future revenue, but they are recalibrating expectations to reflect a more gradual earnings ramp and policy related uncertainty.Narrative Update • Nov 25
EVH: Contract Pipeline Expansion And AI Initiatives Will Drive Margin Expansion
Analysts have revised Evolent Health's fair value estimate downward from $13.35 to $11.04 per share. This revision reflects tempered near-term growth expectations and ongoing sector uncertainties, although there remains optimism about the company's long-term margin and contract pipeline.Narrative Update • Nov 10
EVH: Leadership Changes And Oncology Alliance Will Drive Stronger Performance
Analysts have revised their price target for Evolent Health downward from $15.46 to $13.35 per share. This change is attributed to updated assumptions regarding growth rates and profitability.Analysis Article • Oct 29
Insufficient Growth At Evolent Health, Inc. (NYSE:EVH) Hampers Share Price
With a price-to-sales (or "P/S") ratio of 0.4x Evolent Health, Inc. ( NYSE:EVH ) may be sending very bullish signals at...Analysis Article • Jul 14
Evolent Health, Inc. (NYSE:EVH) Stock Catapults 35% Though Its Price And Business Still Lag The Industry
Evolent Health, Inc. ( NYSE:EVH ) shareholders would be excited to see that the share price has had a great month...Analysis Article • May 30
Why Investors Shouldn't Be Surprised By Evolent Health, Inc.'s (NYSE:EVH) 25% Share Price Plunge
Evolent Health, Inc. ( NYSE:EVH ) shareholders won't be pleased to see that the share price has had a very rough month...New Narrative • May 07
New England Contract And Automation Will Drive Efficiency
Strong organic growth through expanded client agreements and sales pipeline is expected to boost revenue significantly.Analysis Article • Apr 14
Benign Growth For Evolent Health, Inc. (NYSE:EVH) Underpins Its Share Price
With a price-to-sales (or "P/S") ratio of 0.5x Evolent Health, Inc. ( NYSE:EVH ) may be sending very bullish signals at...Seeking Alpha • Feb 27
Evolent Health: Health Insurance Headwinds Aren't Helping Business - Rating Downgrade
Summary Evolent Health's stock has seen significant volatility, initially holding value post my April 2023 "Buy" rating, but then dropping sharply due to missed targets and lowered 2024 guidance. Despite impressive revenue growth from $254m in 2016 to $2.55bn in 2024, Evolent has never been net profitable, with losses stabilizing recently. 2025 guidance shows a revenue drop due to a one-time impact, but organic growth is expected to be 15%-18%, with future annual growth forecasts of 15% revenue and 20% EBITDA. The stock's decline is partly due to failed acquisition rumors and the healthcare IT industry's resistance to change, despite Evolent's focus on value-based care. Read the full article on Seeking AlphaAnalysis Article • Feb 22
Analysts Have Lowered Expectations For Evolent Health, Inc. (NYSE:EVH) After Its Latest Results
Investors in Evolent Health, Inc. ( NYSE:EVH ) had a good week, as its shares rose 4.1% to close at US$10.43 following...Analysis Article • Jan 04
We Think Evolent Health (NYSE:EVH) Can Stay On Top Of Its Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Seeking Alpha • Nov 12
Evolent Health: A Shot At Revival After Market Bruising
Summary Evolent Health has seen a significant 50% drop due to a Q3 earnings miss and high medical costs. Despite setbacks, Evolent secured record-breaking new business deals and anticipates over 15% annual revenue growth, driven by rate increases and strategic partnerships. EVH stock appears undervalued with a P/E ratio of 16.57, suggesting a potential contrarian buy opportunity given its long-term growth prospects. Challenges include soaring medical claims and partner disputes, but additional financing and future rate hikes provide a financial cushion for recovery. Read the full article on Seeking AlphaAnalysis Article • Nov 09
Take Care Before Jumping Onto Evolent Health, Inc. (NYSE:EVH) Even Though It's 49% Cheaper
Evolent Health, Inc. ( NYSE:EVH ) shareholders that were waiting for something to happen have been dealt a blow with a...Analysis Article • Nov 07
We Like These Underlying Return On Capital Trends At Evolent Health (NYSE:EVH)
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Analysis Article • Sep 19
Evolent Health (NYSE:EVH) Has A Pretty Healthy Balance Sheet
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Seeking Alpha • Aug 23
Evolent Health: Let The Bidding Begin
Summary Evolent Health is potentially being taken private at a bid of $3.8 billion, offering a 15% upside to the stock at $32 per share. The company's revenue growth rates are expected to decelerate, but potential bidding wars may drive up the stock price further. Evolent's current valuation at 21x forward free cash flow may undervalue the company, potentially leading to higher bids in the future. Read the full article on Seeking AlphaAnalysis Article • Jul 29
Potential Upside For Evolent Health, Inc. (NYSE:EVH) Not Without Risk
Evolent Health, Inc.'s ( NYSE:EVH ) price-to-sales (or "P/S") ratio of 1.2x might make it look like a buy right now...Analysis Article • Jul 01
Evolent Health's (NYSE:EVH) Returns On Capital Are Heading Higher
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a...Seeking Alpha • May 22
Evolent Health: Recent Pullback, A Buying Opportunity Or Not? (Rating Downgrade)
Summary Following Evolent Health's latest numbers I have doubts arising about its ability to compound capital at an accelerating rate. The company is rotating assets away from invested capital into cash, a signal it may lack a forward investment runway to grow. The decline in PMPM and various factors have contributed to the challenges faced by Evolent Health. Read the full article on Seeking AlphaShareholder Returns
| EVH | US Healthcare Services | US Market | |
|---|---|---|---|
| 7D | 3.1% | 0.9% | -0.9% |
| 1Y | -47.9% | -35.9% | 19.4% |
Return vs Industry: EVH underperformed the US Healthcare Services industry which returned -37.6% over the past year.
Return vs Market: EVH underperformed the US Market which returned 20.3% over the past year.
Price Volatility
| EVH volatility | |
|---|---|
| EVH Average Weekly Movement | 11.3% |
| Healthcare Services Industry Average Movement | 10.1% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.7% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: EVH's share price has been volatile over the past 3 months compared to the US market.
Volatility Over Time: EVH's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of US stocks.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2011 | 4,200 | Seth Blackley | www.evolent.com |
Evolent Health, Inc., through its subsidiary, provides specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company offers integrated value-based care platform for health plan administration and management. It also provides administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.
Evolent Health, Inc. Fundamentals Summary
| EVH fundamental statistics | |
|---|---|
| Market cap | US$661.39m |
| Earnings (TTM) | -US$533.78m |
| Revenue (TTM) | US$1.89b |
0.4x
P/S Ratio-1.2x
P/E RatioIs EVH overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| EVH income statement (TTM) | |
|---|---|
| Revenue | US$1.89b |
| Cost of Revenue | US$1.51b |
| Gross Profit | US$381.19m |
| Other Expenses | US$914.97m |
| Earnings | -US$533.78m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
Aug 06, 2026
| Earnings per share (EPS) | -4.75 |
| Gross Margin | 20.18% |
| Net Profit Margin | -28.26% |
| Debt/Equity Ratio | 245.6% |
How did EVH perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/13 12:25 |
| End of Day Share Price | 2026/07/13 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Evolent Health, Inc. is covered by 23 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Matthew Gillmor | Baird |
| Sean Dodge | BMO Capital Markets Equity Research |
| David Larsen | BTIG |