Healthequity (NASDAQ:HQY) had its price target boosted by Cantor Fitzgerald from $80.00 to $82.00 in a research 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 company’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.””
A number of other analysts have also recently commented on the company. SunTrust Banks cut Healthequity from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $90.00 in a research report on Thursday. ValuEngine cut Healthequity from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. BidaskClub upgraded Healthequity from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. Zacks Investment Research cut Healthequity from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, Raymond James boosted their price objective on Healthequity from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $90.92.
Healthequity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, December 4th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $70.50 million during the quarter, compared to analysts’ expectations of $69.60 million. Healthequity had a return on equity of 12.42% and a net margin of 24.52%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. As a group, sell-side analysts anticipate that Healthequity will post 0.87 EPS for the current fiscal year.
In related news, VP Darcy G. Mott sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $87.01, for a total transaction of $348,040.00. Following the completion of the sale, the vice president now directly owns 92,500 shares in the company, valued at $8,048,425. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 12,000 shares of company stock valued at $1,027,400 over the last quarter. 4.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of HQY. BlackRock Inc. increased its position in shares of Healthequity by 11.3% during the second quarter. BlackRock Inc. now owns 7,688,768 shares of the company’s stock worth $577,427,000 after purchasing an additional 777,915 shares in the last quarter. FMR LLC grew its holdings in Healthequity by 26.5% in the 2nd quarter. FMR LLC now owns 3,410,542 shares of the company’s stock valued at $256,132,000 after buying an additional 715,441 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in Healthequity by 751.9% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 752,482 shares of the company’s stock valued at $56,511,000 after buying an additional 664,157 shares in the last quarter. Morgan Stanley grew its holdings in Healthequity by 15.5% in the 3rd quarter. Morgan Stanley now owns 4,001,425 shares of the company’s stock valued at $377,775,000 after buying an additional 536,366 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Healthequity by 976,643.6% in the 3rd quarter. Clearbridge Investments LLC now owns 380,930 shares of the company’s stock valued at $35,964,000 after buying an additional 380,891 shares in the last quarter. Hedge funds and other institutional investors 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.
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