HealthEquity (NASDAQ:HQY) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies Financial Group has raised its price target for HealthEquity (NASDAQ:HQY) from $130.00 to $134.00, indicating a potential upside of 40.41% from the current stock price.
• HealthEquity reported a quarterly earnings of $0.97 EPS, exceeding the consensus estimate of $0.81, and achieving a revenue of $330.80 million compared to a forecast of $322.25 million.
• Insider trading showed significant stock sales, with EVP Elimelech Rosner selling 58,000 shares and Director Jon Kessler selling 97,767 shares, indicating major shifts in their holdings.

HealthEquity (NASDAQ:HQY - Get Free Report) had its price objective raised by stock analysts at Jefferies Financial Group from $130.00 to $134.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price target indicates a potential upside of 40.41% from the stock's current price.

Several other brokerages have also commented on HQY. Bank of America lifted their target price on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Raymond James Financial restated a "strong-buy" rating and issued a $120.00 price objective (up from $115.00) on shares of HealthEquity in a research report on Tuesday, July 8th. The Goldman Sachs Group boosted their price objective on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $119.77.

HealthEquity Price Performance

HQY traded up $6.58 during trading on Wednesday, reaching $95.43. 2,460,870 shares of the company were exchanged, compared to its average volume of 1,027,670. The company has a market cap of $8.25 billion, a price-to-earnings ratio of 69.73, a P/E/G ratio of 1.38 and a beta of 0.50. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50. The company's 50-day moving average is $94.95 and its two-hundred day moving average is $95.36. HealthEquity has a 12-month low of $73.84 and a 12-month high of $116.65.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.80 EPS. Research analysts forecast that HealthEquity will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at HealthEquity

In other news, EVP Elimelech Rosner sold 58,000 shares of the firm's stock in a transaction on 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 completion of the sale, the executive vice president owned 75,689 shares of the company's stock, valued at $8,519,553.84. This trade represents a 43.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon Kessler sold 97,767 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.05, for a total value of $10,954,792.35. Following the completion of the transaction, the director owned 75,000 shares of the company's stock, valued at $8,403,750. This trade represents a 56.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 291,744 shares of company stock valued at $32,705,007. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HealthEquity

Large investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC grew its position in shares of HealthEquity by 14.9% in the second quarter. Orion Porfolio Solutions LLC now owns 3,770 shares of the company's stock valued at $395,000 after purchasing an additional 490 shares in the last quarter. Squarepoint Ops LLC grew its position in HealthEquity by 172.1% in the second quarter. Squarepoint Ops LLC now owns 35,142 shares of the company's stock worth $3,681,000 after acquiring an additional 22,229 shares during the period. Cim Investment Management Inc. grew its position in HealthEquity by 100.5% in the second quarter. Cim Investment Management Inc. now owns 7,834 shares of the company's stock worth $786,000 after acquiring an additional 3,927 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in HealthEquity in the second quarter worth approximately $273,000. Finally, Ashford Capital Management Inc. grew its position in HealthEquity by 1.6% in the second quarter. Ashford Capital Management Inc. now owns 279,404 shares of the company's stock worth $29,270,000 after acquiring an additional 4,405 shares during the period. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

About HealthEquity

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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