Healthequity Inc (NASDAQ:HQY) Receives Consensus Recommendation of “Buy” from Brokerages

Healthequity Inc (NASDAQ:HQY) has earned a consensus rating of “Buy” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $76.00.

Several equities research analysts have weighed in on HQY shares. Barrington Research restated a “buy” rating and set a $75.00 target price on shares of Healthequity in a research note on Monday. Oppenheimer lowered their price target on shares of Healthequity from $98.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Wells Fargo & Co cut their price objective on Healthequity from $80.00 to $76.00 and set an “outperformer” rating on the stock in a report on Wednesday, September 4th. BidaskClub upgraded Healthequity from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $95.00 target price on shares of Healthequity in a report on Wednesday.

NASDAQ HQY traded up $2.03 during trading on Friday, reaching $63.27. The company’s stock had a trading volume of 274,078 shares, compared to its average volume of 463,222. The firm has a 50 day moving average price of $59.78 and a 200 day moving average price of $64.21. Healthequity has a 12 month low of $50.29 and a 12 month high of $91.19. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 66.65, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47. The company has a current ratio of 22.98, a quick ratio of 22.98 and a debt-to-equity ratio of 0.04.

Healthequity (NASDAQ:HQY) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.33. The company had revenue of $157.12 million during the quarter, compared to the consensus estimate of $152.38 million. Healthequity had a net margin of 28.13% and a return on equity of 11.77%. The firm’s quarterly revenue was up 122.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 earnings per share. On average, equities analysts forecast that Healthequity will post 0.87 EPS for the current fiscal year.

In related news, CFO Darcy G. Mott sold 4,000 shares of Healthequity stock in a transaction on Friday, September 20th. The shares were sold at an average price of $61.61, for a total transaction of $246,440.00. Following the completion of the transaction, the chief financial officer now owns 46,000 shares of the company’s stock, valued at $2,834,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 12,000 shares of company stock worth $715,600 over the last quarter. 3.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of HQY. Metropolitan Life Insurance Co NY boosted its holdings in Healthequity by 27.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 40,209 shares of the company’s stock worth $2,298,000 after acquiring an additional 8,567 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Healthequity by 84.3% during the third quarter. Millennium Management LLC now owns 261,859 shares of the company’s stock valued at $14,963,000 after acquiring an additional 119,758 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Healthequity by 11.4% during the third quarter. Squarepoint Ops LLC now owns 51,478 shares of the company’s stock worth $2,942,000 after purchasing an additional 5,285 shares during the period. Granahan Investment Management Inc. MA raised its position in shares of Healthequity by 29.7% during the third quarter. Granahan Investment Management Inc. MA now owns 602,767 shares of the company’s stock worth $34,445,000 after purchasing an additional 138,045 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Healthequity by 13.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 103,556 shares of the company’s stock worth $5,918,000 after purchasing an additional 12,132 shares in the last quarter. 95.84% of the stock is currently owned by hedge funds and other institutional investors.

About Healthequity

HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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Analyst Recommendations for Healthequity (NASDAQ:HQY)

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