Healthequity (NASDAQ:HQY) had its price objective boosted by investment analysts at Cantor Fitzgerald from $80.00 to $82.00 in a note issued to investors on Thursday. The brokerage presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 19.92% from the stock’s current price.
The analysts wrote, “. We reiterate our Neutral rating on HQY shares and increase our price target to $82 from $80. After the market close on the company reported strong F3Q19 results that were ahead of our estimates and FactSet consensus. HQY raised its full year guidance ranges at their midpoints. We believe the company is poised for strong growth in F20. HQY’s 4Q is the company’s most active quarter for new member growth. The company also mentioned investments it will be making in 4Q and FY2020. The investments will be offset by a lower than expected tax rate. We maintain our view that the shares’ current valuation already reflects the company’s long-term growth potential.””
Several other equities analysts have also issued reports on HQY. KeyCorp lifted their target price on Healthequity from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, September 4th. Citigroup reiterated a “buy” rating and issued a $110.00 target price on shares of Healthequity in a research note on Wednesday, September 5th. Wells Fargo & Co lifted their target price on Healthequity from $84.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Oppenheimer boosted their price target on Healthequity from $85.00 to $104.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Finally, SunTrust Banks boosted their price target on Healthequity to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $90.92.
HQY opened at $68.38 on Thursday. Healthequity has a 1 year low of $42.92 and a 1 year high of $101.58. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 126.63, a P/E/G ratio of 2.72 and a beta of 1.37.
Healthequity (NASDAQ:HQY) last posted its earnings results on Tuesday, December 4th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Healthequity had a return on equity of 12.42% and a net margin of 24.52%. The company had revenue of $70.50 million for the quarter, compared to analyst estimates of $69.60 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm’s quarterly revenue was up 24.1% compared to the same quarter last year. As a group, equities research analysts expect that Healthequity will post 0.87 EPS for the current fiscal year.
In other news, VP Darcy G. Mott sold 4,000 shares of the business’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $87.01, for a total transaction of $348,040.00. Following the sale, the vice president now owns 92,500 shares in the company, valued at $8,048,425. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 12,000 shares of company stock worth $1,027,400 in the last 90 days. Insiders own 4.00% of the company’s stock.
Several hedge funds have recently modified their holdings of HQY. Meeder Asset Management Inc. acquired a new stake in shares of Healthequity during the third quarter worth about $172,000. Cerebellum GP LLC acquired a new stake in shares of Healthequity during the third quarter worth about $185,000. Advisors Asset Management Inc. lifted its holdings in shares of Healthequity by 57.4% during the second quarter. Advisors Asset Management Inc. now owns 2,136 shares of the company’s stock worth $160,000 after purchasing an additional 779 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Healthequity during the third quarter worth about $210,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Healthequity during the third quarter worth about $214,000. Institutional investors and hedge funds own 93.01% of the company’s stock.
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.
Featured Article: The Structure of a Futures Contract
Receive News & Ratings for Healthequity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Healthequity and related companies with MarketBeat.com's FREE daily email newsletter.