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Brendan Springstubb, a director at Evolent Health, Inc. (NYSE:EVH), recently purchased 15,000 shares of the company’s Class A Common Stock, according to a Form 4 filing with the Securities and Exchange Commission. This insider purchase comes as the stock trades near its 52-week low of $8.35, having declined over 70% in the past six months. The shares were acquired at an average price of $9.27, totaling $139,050. This transaction increases Springstubb’s holdings to 26,842 shares. The purchase price was a weighted average, with individual transactions occurring at prices ranging from $9.13 to $9.45. According to InvestingPro analysis, Evolent Health appears undervalued at current levels, with multiple insider purchases signaling management confidence in the company’s prospects. Subscribers can access 10 additional ProTips and comprehensive valuation metrics for EVH.
In other recent news, Evolent Health reported its fourth-quarter results, which fell short of analyst expectations, with adjusted earnings per share at -$0.02 compared to the anticipated $0.07. Revenue for the quarter was $646.5 million, missing projections of $652.2 million but showing a 16.3% increase year-over-year. For the full year 2024, the company reported revenue of $2.55 billion, a 30.1% growth over the previous year. However, Evolent Health’s 2025 revenue forecast of $2.06 billion to $2.11 billion was significantly below the $2.42 billion expected by analysts. Despite these challenges, Evolent Health maintained 100% partner contract retention among its top customers, who contribute over 90% of its revenue.
In analyst developments, Citizens JMP raised its price target for Evolent Health to $13, maintaining a Market Outperform rating. Analyst Constantine Davides expressed confidence in the management’s response to 2024 challenges, suggesting a more predictable profit generation moving forward. Meanwhile, Piper Sandler lowered its price target to $16 from $17 but maintained an Overweight rating, noting that Evolent’s performance, including strong bookings and customer retention, affirms its value proposition. Piper Sandler highlighted the company’s adjusted EBITDA forecast of $150 million for 2025 as well-judged, despite the reduction in the price target. These updates reflect the mixed sentiment among analysts regarding Evolent Health’s financial health and future prospects.
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