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Evolent Health Inc

Evolent Health Inc

EVH
$5.81USD↑+2.47%+0.14 today

MARKET CAP

653.5M

P/E (TTM)

581.0x

FWD P/E

14.4x

DAY RANGE

$6 – $6

52W RANGE

$2
$12

AI Summary

Stalk
StalkMedium

EVH remains in a Stage 2 advancing regime with a clear higher-highs/higher-lows sequence above rising EMAs, but price is extended into extreme overbought territory and testing the 200-day SMA, with a recent exhaustion candle highlighting near-term momentum fatigue. Immediate entries are unfavorable; we will stalk for a corrective pullback into rising EMAs or the 50-day SMA support zone before initiating long exposure.

  • ↑Q1 2026 revenue of $496 M (+9% sequential) beats outlook.
  • ↑Guiding $2.4–2.6 B 2026 revenue on new oncology contracts.
  • ↓Negative profitability factors and earnings yield indicate inefficiencies.
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The case for & against

Bull & Bear analysis

Bearish

Evolent Health, Inc. (NYSE: EVH) is a prominent player in the healthcare technology space, specializing in value-based care management solutions, particularly in oncology and specialty services. With a growing focus on enhancing clinical outcomes and reducing costs for health plans, Evolent resides in a highly strategic segment of the healthcare industry poised for expansion due to ongoing shifts towards integrated care models and increasing complexity in patient care management.

Bull says

  • ↑Q1 2026 revenue of $496 M (+9% sequential) beats outlook.
  • ↑Guiding $2.4–2.6 B 2026 revenue on new oncology contracts.
  • ↑Manages only 10% of oncology market, indicating major growth runway.
  • ↑Investing in AI to drive $20 M EBITDA improvement via efficiencies.
  • ↑Performance Suite revenue hit $323 M, up 26% sequentially.
  • ↑High book-to-price ratio and positive analyst revisions suggest upside.

Bear says

  • ↓Negative profitability factors and earnings yield indicate inefficiencies.
  • ↓Net debt of $792 M raises financial leverage concerns.
  • ↓MER remains elevated at 93%, limiting margin upside.
  • ↓Potential 40% exchange membership decline risks major revenue drop.
  • ↓High stock volatility and weak momentum raise confidence concerns.
  • ↓Low size factor suggests competitive pressures amid industry peers.

Investment themes with EVH

Health Care Providers↓ -0.61%

UNH · CVS · HCA

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-10-2026neutral

Transcript signals

Bull points

  • Today, Evelyn reported strong first quarter results that were in line with our expectations.
  • For the quarter, Evelyn reported total revenue of $496 million, representing 9% sequential growth versus Q4 2025, excluding the divestiture of Evelyn Care Partners, or ECP. and adjusted EBITDA of $22 million, consistent with our expectations and the outlook we provided in February.
  • Our medical expense ratio, or MER, for Q1 2026 was 93%, improving 150 basis points versus Q4 2025, excluding ECP. This performance, we believe, underscores our disciplined execution and our belief in the growing importance and demand for Evelyn's solutions in the marketplace.

Bear points

  • With respect to our update on the exchange impact, we've seen declines in exchange membership in the performance suite as clients saw reduced membership in select markets as previously communicated over the last few quarters.
  • our guidance for the four-year continues to take a cautious approach and assumes the 40% decline we referenced previously.
  • That has actually been the case. So that pushed down the first quarter revenue.
Read full transcript analysis ›