Healthequity (HQY) PT Raised to $62.00

Healthequity (NASDAQ:HQY) had its target price upped by Chardan Capital from $58.00 to $62.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the stock. Chardan Capital’s price target would suggest a potential upside of 27.86% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Healthequity from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. BidaskClub upgraded shares of Healthequity from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Cantor Fitzgerald restated a “buy” rating and issued a $56.00 target price on shares of Healthequity in a report on Monday, September 25th. Robert W. Baird restated a “hold” rating on shares of Healthequity in a report on Thursday, September 21st. Finally, Oppenheimer restated a “buy” rating and issued a $61.00 target price on shares of Healthequity in a report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $58.33.

Healthequity (NASDAQ HQY) opened at $48.49 on Wednesday. The company has a market cap of $2,955.48, a P/E ratio of 77.56, a price-to-earnings-growth ratio of 2.14 and a beta of 1.74. Healthequity has a one year low of $37.62 and a one year high of $55.31.

Healthequity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, December 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. Healthequity had a net margin of 20.27% and a return on equity of 13.93%. The firm had revenue of $56.80 million for the quarter, compared to the consensus estimate of $55.27 million. During the same period last year, the firm posted $0.10 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. analysts anticipate that Healthequity will post 0.7 EPS for the current fiscal year.

In other Healthequity news, Director Frank Medici sold 316,644 shares of the firm’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $51.96, for a total transaction of $16,452,822.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen Neeleman sold 8,500 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $45.24, for a total value of $384,540.00. Following the transaction, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $45,240. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,733,212 shares of company stock worth $90,635,651. 19.00% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in HQY. Zions Bancorporation purchased a new position in Healthequity during the third quarter valued at $119,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Healthequity by 105.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after buying an additional 1,308 shares during the period. Riverhead Capital Management LLC raised its position in shares of Healthequity by 75.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock worth $131,000 after purchasing an additional 1,129 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Healthequity by 7.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,686 shares of the company’s stock worth $134,000 after purchasing an additional 191 shares during the last quarter. Finally, Fortaleza Asset Management Inc. purchased a new position in shares of Healthequity in the 2nd quarter worth about $138,000. 98.60% of the stock is owned by institutional investors and hedge funds.

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About Healthequity

HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.

Analyst Recommendations for Healthequity (NASDAQ:HQY)

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