Healthcare solutions company Evolent Health (NYSE:EVH) will be announcing earnings results this Thursday before the bell. Here’s what investors should know.
Evolent Health beat analysts’ revenue expectations last quarter, reporting revenues of $652.5 million, up 46.9% year on year. It was a stunning quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance exceeding analysts’ expectations.
Is Evolent Health a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Evolent Health’s revenue to grow 51.8% year on year, a reversal from the 22.8% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Evolent Health has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Evolent Health’s peers in the healthcare technology segment, only Omnicell has reported results so far. It exceeded analysts’ revenue estimates and delivered flat year-on-year revenue. The stock traded up 1.9% on the results.
Read our full analysis of Omnicell’s earnings results here.There has been positive sentiment among investors in the healthcare technology segment, with share prices up 2.8% on average over the last month. Evolent Health is up 22.9% during the same time and is heading into earnings with an average analyst price target of $5.75 (compared to the current share price of $4.44).
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