We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Strength Seen in Evolent Health (EVH): Can Its 9.5% Jump Turn into More Strength?
Read MoreHide Full Article
Evolent Health (EVH - Free Report) shares ended the last trading session 9.5% higher at $5.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 29% gain over the past four weeks.
Evolent Health gained as investors built on momentum from recent strong earnings and new specialty care agreements, including an expanded oncology partnership with a national health plan.
This health care software and consulting services provider is expected to post a quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +90%. Revenues are expected to be $611.13 million, up 37.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Evolent Health, the consensus EPS estimate for the quarter has been revised 11.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EVH going forward to see if this recent jump can turn into more strength down the road.
Evolent Health is part of the Zacks Medical Info Systems industry. Claritev Corporation (CTEV - Free Report) , another stock in the same industry, closed the last trading session 4.5% lower at $33.15. CTEV has returned 41.4% in the past month.
For Claritev Corporation, the consensus EPS estimate for the upcoming report has changed -9.6% over the past month to -$4.1. This represents a change of -1381.3% from what the company reported a year ago. Claritev Corporation currently has a Zacks Rank of #4 (Sell).
View the Zacks #1 Rank List
Image: Bigstock
Strength Seen in Evolent Health (EVH): Can Its 9.5% Jump Turn into More Strength?
Evolent Health (EVH - Free Report) shares ended the last trading session 9.5% higher at $5.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 29% gain over the past four weeks.
Evolent Health gained as investors built on momentum from recent strong earnings and new specialty care agreements, including an expanded oncology partnership with a national health plan.
This health care software and consulting services provider is expected to post a quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of +90%. Revenues are expected to be $611.13 million, up 37.5% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Evolent Health, the consensus EPS estimate for the quarter has been revised 11.4% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on EVH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Evolent Health is part of the Zacks Medical Info Systems industry. Claritev Corporation (CTEV - Free Report) , another stock in the same industry, closed the last trading session 4.5% lower at $33.15. CTEV has returned 41.4% in the past month.
For Claritev Corporation, the consensus EPS estimate for the upcoming report has changed -9.6% over the past month to -$4.1. This represents a change of -1381.3% from what the company reported a year ago. Claritev Corporation currently has a Zacks Rank of #4 (Sell).