HealthEquity (NASDAQ:HQY) Given New $110.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for HealthEquity from $109.00 to $110.00, indicating a potential upside of 18.45% based on current stock prices.
• Multiple analysts are optimistic about HealthEquity, with Deutsche Bank increasing its target to $115.00 and Bank of America raising it to $125.00, both maintaining a "buy" rating.
• The company's latest earnings report showed an EPS of $0.97, surpassing estimates, with a revenue of $330.80 million, exceeding analyst expectations.

HealthEquity (NASDAQ:HQY - Get Free Report) had its target price lifted by stock analysts at Royal Bank Of Canada from $109.00 to $110.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 18.45% from the stock's current price.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their price objective on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Bank of America lifted their price target on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group lifted their price target on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $117.91.

HealthEquity Price Performance

HealthEquity stock traded up $4.02 during mid-day trading on Wednesday, reaching $92.87. 1,021,308 shares of the company were exchanged, compared to its average volume of 1,017,351. The company has a fifty day simple moving average of $94.95 and a 200-day simple moving average of $95.36. HealthEquity has a 12 month low of $73.84 and a 12 month high of $116.65. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06. The firm has a market cap of $8.03 billion, a PE ratio of 67.53, a PEG ratio of 1.38 and a beta of 0.50.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%.The firm had revenue of $330.80 million for the quarter, compared to analyst estimates of $322.25 million. During the same quarter last year, the company earned $0.80 EPS. As a group, equities research analysts expect that HealthEquity will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $101.73, for a total transaction of $182,503.62. Following the sale, the executive vice president owned 53,225 shares in the company, valued at $5,414,579.25. The trade was a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $112.56, for a total value of $6,528,480.00. Following the transaction, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. The trade was a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 291,744 shares of company stock worth $32,705,007 in the last 90 days. Insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in HealthEquity by 2.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,787 shares of the company's stock worth $397,000 after buying an additional 108 shares during the period. Advisors Asset Management Inc. raised its stake in HealthEquity by 4.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 2,437 shares of the company's stock worth $255,000 after buying an additional 110 shares during the period. Ieq Capital LLC raised its stake in HealthEquity by 4.4% during the 1st quarter. Ieq Capital LLC now owns 2,945 shares of the company's stock worth $260,000 after buying an additional 123 shares during the period. Xponance Inc. raised its stake in HealthEquity by 1.1% during the 1st quarter. Xponance Inc. now owns 12,412 shares of the company's stock worth $1,097,000 after buying an additional 136 shares during the period. Finally, Coldstream Capital Management Inc. raised its stake in HealthEquity by 7.3% during the 2nd quarter. Coldstream Capital Management Inc. now owns 2,027 shares of the company's stock worth $212,000 after buying an additional 138 shares during the period. 99.55% of the stock is owned by institutional investors and hedge funds.

HealthEquity Company Profile

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.

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