HealthEquity (NASDAQ:HQY) Price Target Raised to $125.00

HealthEquity (NASDAQ:HQY - Get Free Report) had its target price raised by equities research analysts at Bank of America from $110.00 to $125.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 10.91% from the company's previous close.

HQY has been the subject of a number of other research reports. Barrington Research reaffirmed an "outperform" rating and issued a $112.00 price objective on shares of HealthEquity in a report on Friday, April 11th. Royal Bank of Canada assumed coverage on shares of HealthEquity in a report on Thursday, May 22nd. They issued an "outperform" rating and a $112.00 price objective for the company. The Goldman Sachs Group cut their price objective on shares of HealthEquity from $107.00 to $94.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. KeyCorp dropped their target price on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company lifted their target price on shares of HealthEquity from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, HealthEquity has a consensus rating of "Buy" and an average price target of $118.09.

HealthEquity Stock Performance

Shares of HealthEquity stock traded down $0.36 during trading on Wednesday, hitting $112.70. 1,948,931 shares of the company's stock were exchanged, compared to its average volume of 823,847. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.20 and a current ratio of 3.20. The business has a 50-day simple moving average of $90.51 and a 200-day simple moving average of $97.67. HealthEquity has a 52-week low of $65.01 and a 52-week high of $116.69. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of 103.39, a PEG ratio of 1.60 and a beta of 0.45.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.16. HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. The firm had revenue of $330.80 million during the quarter, compared to analysts' expectations of $322.25 million. During the same quarter last year, the company posted $0.80 earnings per share. On average, research analysts forecast that HealthEquity will post 2.32 EPS for the current year.

Insider Buying and Selling

In other HealthEquity news, EVP Michael Henry Fiore sold 8,881 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $78.26, for a total transaction of $695,027.06. Following the completion of the transaction, the executive vice president now owns 56,655 shares in the company, valued at $4,433,820.30. The trade was a 13.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Selander sold 5,750 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $77.65, for a total transaction of $446,487.50. Following the transaction, the director now owns 84,969 shares of the company's stock, valued at $6,597,842.85. This trade represents a 6.34% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new stake in HealthEquity during the 4th quarter worth $26,000. Transce3nd LLC acquired a new stake in HealthEquity during the 4th quarter worth $29,000. WPG Advisers LLC acquired a new stake in HealthEquity during the 1st quarter worth $28,000. Versant Capital Management Inc acquired a new stake in HealthEquity during the 1st quarter worth $28,000. Finally, Smartleaf Asset Management LLC boosted its stake in HealthEquity by 34.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 384 shares of the company's stock worth $37,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 99.55% of the company's stock.

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.