Brokerages Set Healthequity Inc (HQY) Target Price at $56.67

Shares of Healthequity Inc (NASDAQ:HQY) have received a consensus rating of “Buy” from the twelve brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $56.67.

A number of research firms have recently weighed in on HQY. Zacks Investment Research raised shares of Healthequity from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Saturday, February 10th. BidaskClub raised shares of Healthequity from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird upped their price target on shares of Healthequity from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Cantor Fitzgerald upped their price target on shares of Healthequity from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Healthequity from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th.

In related news, insider Jon Kessler sold 20,442 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $55.02, for a total value of $1,124,718.84. Following the sale, the insider now directly owns 446,332 shares of the company’s stock, valued at approximately $24,557,186.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Berkley Capital, Llc sold 700 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $52.05, for a total transaction of $36,435.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 751,040 shares of company stock worth $38,610,529. 19.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Carillon Tower Advisers Inc. acquired a new stake in shares of Healthequity during the 4th quarter worth about $34,100,000. Eagle Asset Management Inc. acquired a new stake in shares of Healthequity during the 3rd quarter worth about $36,875,000. Victory Capital Management Inc. boosted its stake in shares of Healthequity by 116.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,031,711 shares of the company’s stock worth $48,139,000 after purchasing an additional 555,027 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Healthequity by 49.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,108,410 shares of the company’s stock worth $56,063,000 after purchasing an additional 366,925 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Healthequity by 3.8% during the 4th quarter. BlackRock Inc. now owns 6,751,491 shares of the company’s stock worth $315,026,000 after purchasing an additional 244,819 shares during the last quarter. 99.47% of the stock is currently owned by hedge funds and other institutional investors.

Healthequity (NASDAQ HQY) traded up $0.15 during trading hours on Friday, hitting $54.86. 557,200 shares of the stock were exchanged, compared to its average volume of 526,513. Healthequity has a fifty-two week low of $37.62 and a fifty-two week high of $56.81. The firm has a market cap of $3,328.50, a PE ratio of 74.14, a PEG ratio of 2.09 and a beta of 1.70.

Healthequity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, December 5th. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.04. Healthequity had a net margin of 21.08% and a return on equity of 14.47%. The business had revenue of $56.80 million for the quarter, compared to analysts’ expectations of $55.27 million. During the same period in the prior year, the company posted $0.10 EPS. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. sell-side analysts forecast that Healthequity will post 0.73 earnings per share for the current fiscal year.

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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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